Global shares retreat after Evergrande shares suspended

By ELAINE KURTENBACH
AP Business Writer

Global stocks have fallen, with Hong Kong’s benchmark down more than 2% after troubled property developer China Evergrande’s shares were suspended from trading. Shares fell in Paris, Frankfurt and Tokyo. U.S. futures also declined. A Chinese financial news service said another developer planned to acquire Evergrande’s property management unit. Wall Street rebounded on Friday, led by companies that would benefit most from a healthier economy. The S&P 500 gained 1.1%. But U.S. markets still had their worst week since the winter. Crude prices fell slightly ahead of a meeting of major oil producers. There was no sign that a spill from a pipeline off the California coast was having an impact on prices.