Global stocks fall as worries over an Evergrande collapse resurface, while bitcoin loses grip of its all-time high

Global stocks fall as worries over an Evergrande collapse resurface, while bitcoin loses grip of its all-time high

Global stocks slipped Thursday, as revived worries about a default by Chinese property giant Evergrande took the wind out of optimism over strong US quarterly earnings. The benchmark S&P 500 closed just below September's record high on Wednesday, while the Dow Jones added more than 150 points. But futures on the and the both fell 0.3% as of 4:10 a.m. ET, suggesting a slightly lower start to trading later in the day. Those on the , which closed lower the previous session, shed 0.2%. In Hong Kong, Evergrande Group shares before closing 12.5% lower. Investors shed the stock after a $2.6 billion deal for the sale of a 51% stake in its property services division to Hopson Development. Evergrande's shares resumed trading in Hong Kong Thursday after being suspended for more than two weeks. Another test of the property developer looms. A 30-day grace period on a missed $83.5 million coupon payment expires Saturday, and could trigger a cross-default on other debt instruments, according to Jeffrey Halley, senior market analyst at OANDA. "Following other Chinese developers' recent defaults, the Evergrande story and the leverage in China's property development sector could make an overdue return to the front pages this weekend