The stocks of nearly 200 companies that call China home are in the red on Tuesday, many because regulators in that country cracked down on a number of U.S.-listed Chinese stocks. Among the harshest hit include Full Truck Alliance (NYSE: YMM) , which is down over 20% in morning trading; Kanzhun (NASDAQ: BZ) and UP Fintech Holding (NASDAQ: TIGR) , both of which are down 11%; and Bilibili (NASDAQ: BILI) , off almost 7% today.
Many of the stocks bearing the brunt of the crackdown are recent U.S. IPOs, including Full Truck, Kanzhun, and DiDi Global (NYSE: DIDI) , the parent company of Chinese ridesharing giant DiDi Chuxing, which is down 23% this morning after regulators booted its app off of all app stores in the country.
Image source: Getty Images.
For further details see:
Why These China Stocks Are Plummeting Today