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Why Alibaba, Bilibili, and Pinduoduo Are Falling Today

Chris Neiger, The Motley Fool
·2 min read
Why Alibaba, Bilibili, and Pinduoduo Are Falling Today

Shares of Alibaba (NYSE: BABA), Bilibili (NASDAQ: BILI) and Pinduoduo (NASDAQ: PDD) were all sliding this afternoon after the Chinese government imposed fresh lockdowns in some parts of the country, and fined Alibaba and other Chinese tech companies for not complying with some anti-monopoly regulations. As a result, the Chinese tech stock sector was sliding today, sending Alibaba down 8.5%, Bilibili falling 9.4%, and Pinduoduo tumbling 10.1% as of 2:26 p.m. ET.

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