Stocks of some of China's most widely held companies were sinking in unison on Wednesday, with several catalysts sending them lower. One company delivered a disappointing financial report, concerns about China's economy continued, and the country's policymakers announced moves that shook up its stock market.

With that as a backdrop, several of China's biggest technology stocks lagged the broader market. Shares of Baidu (NASDAQ: BIDU) slumped 7.2%, Tencent Holdings (OTC: TCEHY) declined 3.9%, and Alibaba (NYSE: BABA) fell 3.4%, as of 1:22 p.m. ET today.

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Source Fool.com