Why Shares of Alibaba, JD.Com, and Tencent Are Falling Today

Many Chinese stocks fell today, as investors digested new economic data in China. There was also a renewed focus on potential incoming trade restrictions that are being considered by the Biden administration.

Shares of the large Chinese tech conglomerate Alibaba (NYSE: BABA) traded roughly 2.6% lower as of 12:30 p.m. ET today. Meanwhile, shares of another large Chinese tech conglomerate JD.Com (NASDAQ: JD) traded more than 5% lower, while shares of the large Chinese multimedia company Tencent Holdings (OTC: TCEHY) were down roughly 3.7%.

New data released yesterday confirmed fears among analysts and economists that China's economic growth this year has slowed and the rebound from last year has lost momentum.

Source Fool.com