A big week for global markets is off to a messy start as stocks plunge around the world and haven bids break out. Blame everything from China Evergrande Group’s woes and the collapse in iron-ore prices to fears over the U.S. debt ceiling.

The endgame for creditors to the Chinese property giant has arrived just as traders are in a state of alert before the Federal Reserve’s meeting this week.

The Stoxx Europe 600 index dropped 1.9% Monday, on track for the biggest decline in two months, as futures on the S&P 500 test key 50-day support levels.

















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