Chinese Developers’ Dollar Bond Woes Deepen: Evergrande Update

A selloff in dollar bonds and shares of riskier Chinese property developers worsened Monday afternoon, amid Ukraine-induced global market volatility and expectations for a continued housing slump in the world’s No. 2 economy.

Declines in Chinese high-yield dollar notes acceleratedto 2 to 5 cents on the dollar, after a Bloomberg indextracking the sector hit its lowest level since Jan. 19 on Friday. The weakness also spread to higher-grade developers. A Bloomberg Intelligence gauge of Chinese real estate shares fell as much as 3% to a five-year low Monday.

Meantime, a unit of Logan Group Co. led ...