Why China Evergrande Stock Just Crashed

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.

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Source Fool.com