No surprise, but the news is hitting these Chinese stocks hard today:
U.S.-listed stocks of Chinese companies fell sharply Friday, after a report that the White House is considering a limit to Chinese companies trading on U.S. The report from Bloomberg News cited people familiar with the matter and suggests an escalation of the tensions between the two economies that are already in the midst of a trade dispute. Among the stocks that moved lower, Huya Inc.
a live videogame streaming platform fell 9%, electric car maker Nio Inc. NIO, -12.76% fell 10%, iQiyi Inc. IQ, -5.48%, a Netflix type service, fell 9%, Internet giant Baidu Inc. fell 2.6% and Luckin Coffee LK, -7.12%, the 'Starbucks' of China, fell 5%. E-commerce company Pinduoduo Inc. PDD, -4.99% was down 6%. Alibaba was down 4.4%.
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