China's property stocks fall by the most in nine months as Evergrande says it's unable to issue new debt

• China's embattled property stocks have tanked by the most in nine months, according to Bloomberg data. 
• The Bloomberg Intelligence gauge of Chinese developer shares fell almost 7% after Monday's trading.
• Major developer Evergrande fell by 25% after announcing it was unable to issue new debt.

China's property stocks have tanked by the most in nine months as the embattled industry struggles to cope with a slew of headwinds.  

The Bloomberg Intelligence gauge of developer shares fell almost 7% after Monday's trading – having now shed over $55 billion from its value this year, per the outlet.