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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/economy/2023/2/2/indias-...

"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/market/after-credit-suiss...

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

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https://www.bloomberg.com/news/articles/2023-02-03...

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

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https://economictimes.indiatimes.com/news/economy/...

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

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https://www.thehindu.com/business/adani-enterprise...

"Adani Enterprises Shares Removed from Dow Jones Sustainability Indices"

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https://www.business-standard.com/article/markets/...

https://www.bloomberg.com/news/articles/2023-01-31...

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

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