PDD - Alibaba Chinese tech stocks start off week with broad losses

Chinese tech stocks took it on the chin Monday as the likes of Alibaba (NYSE:BABA), Baidu (NASDAQ:BIDU) and JD.com (NASDAQ:JD) all dove into the red amid a broad stock market selloff stoked by fears of an economic recession in the near future. Rising inflation was on the minds of investors following last week's report and speculation over steps the Federal Reserve may take to try to cool the inflation that has reached its highest levels in four decades. Among leading Chinese tech stocks, Alibaba (BABA) shares dropped almost 11%, Baidu (BIDU) gave up more than 7%, JD.com (JD) and Weibo (WB) were each off by more than 5%, JOYY Inc. (YY) fell almost 5%, PinDuoDuo (PDD) slumped more than 11%, and the KraneShares CSI China Internet ETF (KWEB) fell almost 8%. Alibaba (BABA) has been in a swoon of late. Last week, the Chinese e-commerce leader took a hit after a

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Alibaba, Chinese tech stocks start off week with broad losses