Why Baidu, NetEase, and Alibaba Stocks Keep Falling
Fears about investing in Chinese tech stocks reached a fever pitch Monday, as international megabank J.P. Morgan announced "double-downgrades" on three of the biggest names in China tech: Baidu (NASDAQ: BIDU), NetEase (NASDAQ: NTES), and Alibaba Group Holding Limited (NYSE: BABA).
As of noon ET, NetEase shares are down 7.2% from Friday's close, Baidu stock is off 7.5%, and Alibaba is leading the Chinese tech sector lower with a loss of 8.2%.
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Source Fool.com
