Why Shares of JD.com, Lufax Holding, and Dingdong Are Down Today
Shares of several Chinese stocks trading on U.S. exchanges fell today as investors digested a lot of news coming out of China.
Shares of the large e-commerce company JD.com (NASDAQ: JD) traded roughly 7.3% lower as of 10:52 a.m. ET today, shares of the financial services platform Lufax Holding (NYSE: LU) traded nearly 9% down, and shares of the online grocery platform Dingdong (NYSE: DDL) traded roughly 8% down.
There has been seemingly good news for Chinese stocks recently, although it has failed to impress investors. President Joe Biden said yesterday that he would review some of the tariffs on Chinese imports first implemented by former president Donald Trump and would consider removing them. Biden's comments led to the yuan increasing by as much as 0.7%, the highest it's been since earlier this month.
Source Fool.com
