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Why China Evergrande Stock Just Crashed

TheMotleyFool

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So the other shoe dropped in the China Evergrande saga today. After collapsing earlier in the week on insolvency fears, then rebounding on hopes the company might make a big interest payment due Thursday, Chinese real estate giant China Evergrande Group (OTC: EGRN.F) tumbled this morning after it was reported that the company may have missed the deadline for payment.

As of 10:35 a.m. EDT, China Evergrande stock is down 12.7%.

Image source: Getty Images.

Source Fool.com

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