WB - Alibaba Baidu and other Chinese tech stocks fall as Evergrande fears spread

Chinese tech companies such as Alibaba Group (NYSE:BABA), Baidu (NASDAQ:BIDU) and JD.com (NASDAQ:JD) went into the red early Monday as the sector got caught in a wave of broad declines spurred on by fears over a possible default by China-based property giant Evergrande (OTCPK:EGRNF). Over the weekend, concerns about Evergrande, and its $300 billion in debt, began to grow, and hit U.S. markets in force Monday morning. Should Evergrande collapse, it's possible that other Chinese property developers could fall in its wake and lead to upheaval across China and its economy. Investors wasted little time showing their feeling Monday, as Alibaba (BABA) fell 4.7%, and JD (JD), Weibo (NASDAQ:WB), and Baidu (BIDU) were each off by around 4%, Tencent Holdings (OTCPK:TCEHY) gave up 1.5%, and the KraneShares CSI China Internet ETF (NYSEARCA:KWEB) pulled back by 4% as trading progress. Chinese ride-sharing leader DiDi Global (NYSE:DIDI) fell 4.2%. A report from Reuters

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Alibaba, Baidu and other Chinese tech stocks fall as Evergrande fears spread