Why General Motors Stock Is Down Today
Shares of General Motors (NYSE: GM) were trading lower on Monday amid a broad sell-off driven by fears that the deeply indebted Chinese property developer China Evergrande Group (OTC: EGRNF) could collapse and trigger a broad crisis.
As of 12:30 p.m. EDT today, GM's share price was down about 5.4% from Friday's close.
Evergrande was once China's most prolific property developer. But right now it's known more for its debt: roughly $300 billion, enough to make it China's most indebted company.
Source Fool.com
