Global stocks fall as Evergrande uncertainty dents confidence, while Fed outlook ignites surge in bond yields

Global stocks fall as Evergrande uncertainty dents confidence, while Fed outlook ignites surge in bond yields

Global stocks fell Friday, with investors on edge as uncertainty surrounded the Evergrande debt crunch situation, while government bond yields rose after the Federal Reserve hinted interest rates could rise quicker than expected. Futures on the dropped 0.3%. Those on the were down 0.4%, and futures lost 0.5% as of 6:10 a.m. ET, suggesting a lower start to trading later in the day. The three major US indexes all gained more than 1% Thursday, as markets recovered from Evergrande-driven losses at the start of the week. But the concerns around a debt default by the troubled Chinese property giant were simmering again Friday as it was unclear whether Evergrande had missed its Thursday deadline to make a crucial $83 million bond interest payment. Bondholders have not been paid nor heard from the company, people familiar with the situation told . There has been no word from Evergrande itself. Evergrande has a 30-day grace period to meet the obligation. If it doesn't pay by then, it will be in default. The size of the property developer means a default could pose risks to China's financial system, which could then spread elsewhere in the world. The People's Bank of China into the