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Why China Evergrande Stock Dropped, and Its EV Stock Followed

·2-min read
Why China Evergrande Stock Dropped, and Its EV Stock Followed
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Shares of Chinese companies named "Evergrande" are having a topsy-turvy day today. China Evergrande Group (OTC: EGRN.F), the real estate giant that's been making headlines over the past year, was down 14% by 11:48 a.m. EDT on Thursday. China Evergrande proper is plummeting on reports that the Chinese government has instructed local governments "to prepare for the potential downfall of China Evergrande Group," as The Wall Street Journal put it today.

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