Subject: Adani and contagion
IMHO this is already much bigger news than the $40bn Facebook buyback announcement that drove the Nasdaq up yesterday... I am wondering where contagion will begin to show up, the knock-on effects inside and outside of India.

https://www.aljazeera.com/econ...

"Adani's market losses swelled above $100bn on Thursday, sparking worries about a potential systemic impact a day after the Indian group's flagship firm abandoned its $2.5bn stock offering."

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https://www.livemint.com/marke...

"After Credit Suisse, Citigroup's wealth unit stops accepting Adani Group securities"

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https://www.bloomberg.com/news...

"TotalEnergies has employed $3.1 billion of capital in Adani"

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https://economictimes.indiatim...

"Finance Minister Nirmala Sitharaman says Indian banking system is in a sound position"

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https://www.thehindu.com/busin...

"Adani Enterprises Shares Removed from Dow Jones Sustainability Indices"

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https://www.business-standard....

https://www.bloomberg.com/news...

These articles suggest Norway's sovereign wealth fund raised alarms last year (March 2022) but still held 200 million in Adani Group.

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lux