Chinese Stocks Plummet on Trump Order, Led by 10% Plunge in Alibaba
Chinese stocks tumbled in US trading on Monday, led by the biggest selloff in Alibaba Group Holding Ltd. since 2022, after President Donald Trump’s latest directive stirred fears about deepening financial and technological decoupling between the world’s two largest economies. Most Read from BloombergThe e-commerce firm’s American depositary receipts closed down 10%, the biggest decline since Oct. 2022. The Nasdaq Golden Dragon China Index tumbled 5.2%, with Bilibili Inc. and JD.com Inc. among stocks that slid more than 7%.
- This sell-off highlights the vulnerability of Chinese tech firms to shifting geopolitical sands, a reality that investors are only now beginning to fully appreciate.
- Will the Trump administration's aggressive stance on China ultimately succeed in reshaping the global economic landscape, or will it merely trigger a cycle of counter-moves and retaliation from Beijing?