Alibaba Shares Tumble as Trump Order Stirs China Trade Angst
Alibaba Group Holding Ltd shares tumbled in US trading on Monday as President Donald Trump’s latest executive order stirred fears about deepening trade tensions between the US and China. The selloff marks a sharp reversal after a run up in Alibaba and other China technology stocks in recent weeks amid optimism about artificial intelligence. The US government's move has raised concerns that Beijing may retaliate against American companies, potentially hurting Alibaba's business.
- This sharp reversal highlights the volatility of global markets when geopolitics and trade policies intersect, underscoring the need for investors to stay vigilant.
- Will China's countermeasures target not just foreign companies but also domestic firms, leading to a broader impact on the Chinese economy?