What happened

Shares of the Chinese real estate platform KE Holdings (BEKE -2.16%) have fallen nearly 13% as of 3:30 p.m. EDT today after there was some disappointing news regarding the Chinese real estate market.

So what

Earlier today, media outlets reported that the Chinese real estate developer Modern Land missed a payment for one of its bonds that has outstanding debt of $250 million.

The news comes just weeks after one of China's largest real estate developers, China Evergrande Group (EGRN.F 70.00%), had to address debt troubles of its own after running up a tab of more than $300 billion.

If Evergrande had or ever did miss payments on its bonds, some have feared the global economy might face a situation similar to that of the Great Recession in 2008, although it's unclear if Chinese regulators would let the company fail or if the situation would actually be the same.

Person holding their head looking at red squiggly line moving downward.

Image source: Getty Images.

Now what

KE Holdings stock has already struggled greatly this year, due to regulators cracking down on the Chinese real estate market. I'll say pretty much what I say about most Chinese stocks trading on U.S. exchanges: You really need to know the regulatory landscape and broader sector in China incredibly well before investing.