Why Shares in Taseko Mines Are Crashing Today
Shares in copper miner Taseko Mines (NYSEMKT: TGB) fell more than 9% as of 3 p.m. EDT today. Although Taseko's mining assets are nearly all in Canada (the company also has a U.S. project in Arizona), today's move is all about one country: China.
Moreover, it's not just about China; it's about the potential knock-on effect of the debt crisis at one of its largest property developers, China Evergrande Group. The market spent the weekend digesting speculation that Evergrande would default on its debt and then promptly sold the market off on Monday.
Image source: Getty Images.
Source Fool.com
