U.S. market better able to aborb potential market shock compared with 2008-SEC chair

  • 9/21/2021
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WASHINGTON, Sept 21 (Reuters) - The U.S. market is in a better position to absorb a potential global shock from a major company default compared with the years prior to the 2007-2009 financial crisis, Securities and Exchange Commission (SEC) chair Gary Gensler said on Tuesday. Gensler"s remarks follow a jittery trading day for Wall Street on Monday due in part to investor fears of contagion from a potential collapse of Chinese property giant China Evergrande Group(3333.HK). "I do think we are in a better position in 2021 to absorb some of those shocks than we were prior to the "08 crisis," Gensler told the Washington Post during a livestreamed interview, citing reforms adopted following the decade-ago financial crisis to bolster the financial system. "But it doesn"t mean that we are isolated - our economies are connected around the globe."

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