Shares of banks and other financial institutions fell as Treasury yields lingered near 16-year highs.
The spike in Treasury yields is reverberating through global markets, threatening to slow lending and investment-banking activity.
Property developer China Evergrande scrapped a $35 billion debt-restructuring plan designed to ensure the property developer’s survival, a sign that China’s ongoing housing crisis could still get worse.
Goldman Sachs Group is close to selling its GreenSky online consumer lending business, with investment firms Sixth Street, Pacific Investment Management and KKR reportedly among those forming a consortium to buy GreenSky.
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