It was a China sell-off, as concerns about a looming financial crisis in China sent panic waves across the investing community and triggered a massive sell-off in Chinese stocks in particular. One of China's leading property developers China Evergrande Group (OTC: EGRNF) is on the verge of defaulting on debt worth $300 billion. It is reminiscent of the Lehman Brothers financial crisis of 2008, and investors fear Evergrande's potential collapse could have a domino effect and slow down China's growth.
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