Why Chinese Stocks Fell Today
Shares of many U.S.-listed Chinese companies fell today on reports that President Trump is considering delisting the stocks from domestic exchanges. As of 3 p.m. EDT, Alibaba (NYSE: BABA) was down 6%, Huya (NYSE: HUYA) had fallen 12%, NIO (NYSE: NIO) had lost 13%, Tencent (OTC: TCEHY) was down 3%, Baidu (NASDAQ: BIDU) sank 4%, and IQIYI (NASDAQ: IQ) had shed 6%, among other names.
Bloomberg first reported that the Trump administration is weighing measures to limit U.S. investors' ability to invest in Chinese companies in an effort to reduce those companies' access to capital. That could even go as far as delisting the stocks from U.S. exchanges, although it's unclear how Trump would be able to pull off such a move.
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Source Fool.com
