Why JD.com Stock Was Sliding Today

Shares of JD.com (NASDAQ: JD) were drifting lower today one day after the stock soared after the Chinese government said it would do more to create stability in financial markets. It also said that its crackdown on tech stocks should be over soon.

That news sent JD and other Chinese stocks soaring yesterday with JD.com finishing Wednesday up 39.4%. In a snapback reaction today, the stock was down 6.1% as of 11:49 a.m. ET with other Chinese stocks pulling back as well.

Image source: JD.com

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Source Fool.com