Market rallies in the U.S. have stalled with 2 per cent weekly declines while Asian equities are on course for their third consecutive week of losses as rate woes and a growing debt crisis stoke investors’ fears. In China, property giant Evergrande files for bankruptcy protection in the U.S. with state-owned developers warning of large losses throughout the sector. Japan’s core inflation eases which boosts hopes that the BoJ may keep benchmark rates on hold. And in crypto news, Bitcoin tumbles by up to 9 per cent following SpaceX’s decision to sell off its $373m holding in the company.

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