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Why Alibaba Stock Fell Today

TheMotleyFool

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Shares of Alibaba (NYSE: BABA), the Chinese tech giant, took a dive today in a broad sell-off in Chinese stocks in response to news that Chinese real estate giant Evergrande Group could be forced into bankruptcy.

Alibaba closed down 5.4% while the China MSCI ETF lost 4% and the S&P 500 pulled back 1.7%.

Image source: Alibaba.

Source Fool.com

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