Why Alibaba Stock Is Tanking Today
Shares of (NYSE: BABA) are tumbling on Friday. The company's stock lost 11% as of 1:50 p.m. ET and as much as 13.9% earlier in the day. The decline comes as the S 500 and Nasdaq Composite fell sharply.
As the fallout from President Donald Trump's tariffs continues to pummel markets, his latest executive order directly targets a key advantage of Chinese e-commerce platforms like Alibaba.
Trump signed an executive order on Wednesday that ends the de minimis tariff exemptions for packages up to $800 from China and Hong Kong. This meant that all shipments coming into the U.S. will be subject to Trump's tariffs no matter their value. The de minimus exception spared much of what U.S. consumers were purchasing from Alibaba's website.
Source Fool.com
Alibaba Group Holding Ltd ADR Stock
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