Chinese Stocks Plummet Amid Broader Market Decline

Dec 10, 2024

On Tuesday, major Chinese stocks faced significant declines, with the Nasdaq Golden Dragon China Index (HXC) falling 4.34%. Among the gainers, WSP Holdings rose 0.26%, and Pony.ai increased 1.45%. However, several key stocks saw notable losses: TSMC dropped 3.63%, Alibaba fell 2.70%, and Pinduoduo decreased 5.29%. Other significant decliners included NetEase, JD.com, Trip.com, Baidu, and Li Auto.

In the broader U.S. market, stocks also closed lower, with the Dow Jones Industrial Average falling for the fourth consecutive session, down 154.10 points or 0.35% to 44,247.83. The Nasdaq dropped 49.45 points or 0.25%, and the S&P 500 decreased 17.94 points or 0.30%. Investors are closely monitoring CPI inflation data for insights into the Federal Reserve's monetary policy.

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I/We may personally own shares in some of the companies mentioned above. However, those positions are not material to either the company or to my/our portfolios.

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