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BY 馃嚛馃嚜 袙袝些袠 袠袟 袚袝袪袦袗袧袠袠 馃嚛馃嚜
The S&P 500 slumped 1.8% on Monday and Tuesday, thanks to China Evergrande, the Chinese property company that looks like it is ready to default on its more-than $300 billion in debt. Cries of the next Lehman Brothers鈥攐r maybe the next Silverado?鈥攅choed through the canyons of Wall Street as investors prepared for the worst.
The messaging service and social-media platform owes creditors roughly $700 million by the end of April, according to people briefed on the company鈥檚 plans and loan documents viewed by The Wall Street Journal. At the same time, Telegram Group Inc. must cover rising equipment and bandwidth expenses because of its rapid growth, despite going years without attempting to generate revenue.
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