Why Alibaba, JD.com, and PDD Holdings Stocks Were Sliding Today
Chinese stocks fell again today as negative economic news weighed on the sector. This time, China's exports fell more than expected in March, hammering hopes for a recovery in the world's No. 2 economy.
Exports are a significant part of the Chinese economy, accounting for roughly 19% of its overall gross domestic product (GDP). They are also seen as a potential bright spot at a time when the Chinese consumer is struggling and the domestic economy is weak.
Exports last month fell 7.5%, while imports were down 1.9%. Both numbers significantly missed economist expectations.
Source Fool.com
