Several stocks are taking a beating today as news of the Evergrande (OTCMKTS:EGRNF) fiasco continues to unfold.
China Evergrande Group is a major property developer in China that is drowning in debt. It has $300 million in liabilities that need to be paid off soon. However, it doesn’t look like that’s going to happen as it doesn’t have the funds.
This has several Chinese company stocks falling hard today. It’s also affecting crypto mining companies, as well as some players in the U.S. with plans for the Chinese market or reliance on it.
Let’s take a look at how badly some of these companies are falling on today’s news.
Stocks Hit By the China Evergrande Collapse
- Marathon Digital Holdings (NASDAQ:MARA) stock is taking a more than 6% beating as of Monday afternoon.
- Riot Blockchain (NASDAQ:RIOT) stock is slipping over 5% today.
- MicroStrategy (NASDAQ:MSTR) stock is dropping more than 4% this afternoon.
- Coinbase Global (NASDAQ:COIN) stock is slipping over 5%.
- Hut 8 Mining (NASDAQ:HUT) stock is declining more than 13% today.
- Bitfarm(NASDAQ:BITF) stock is also falling over 13%.
- Silvergate Capital (NYSE:SI) stock is decreasing more than 7%.
- Bit Digital (NASDAQ:BTBT) stock is seeing shares fall over 13% this afternoon.
- Grayscale Bitcoin Trust (OTCMKTS:GBTC) stock is getting hit by more than 8%.
- Alibaba (NYSE:BABA) stock is down over 5% today.
- Baidu (NASDAQ:BIDU) stock is taking a more than 5% beating as of this writing.
- Nio (NYSE:NIO) stock is decreasing about 6%.
- DiDi Global (NYSE:DIDI) stock is falling over 7% as of Monday afternoon.
Of course, there’s more news for Monday that traders will want to know about.
We’ve got all the latest stock market coverage to help with that. This includes a $1.4 billion deal for Electronic Arts (NASDAQ:EA), a closer look at NIO’s fall, as well as what has Verastem (NASDAQ:VSTM) on the move. You can find all of that at the links below!
More Monday Stock Market News
- EA Stock News: 7 Things to Know About the $1.4B Electronic Arts-Playdemic Deal
- NIO Stock: 2 Big Reasons Nio Is Struggling Today
- Penny Biotech Stocks: 8 Things for Verastem Investors to Know as VSTM Stock Shoots Higher
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.