Alibaba's US shares drop over 10% - Breaking The News

Alibaba's US shares drop over 10%

24 February

1 min read

EPA-EFE/ALEX PLAVEVSKI

The United States-listed shares of Alibaba Group Holding Ltd. tumbled on Monday falling over 10% following US President Donald Trump's signing of a memorandum related to Chinese investments in the country.

In the memorandum, the US head of state ordered the Committee on Foreign Investment in the US (CFIUS) to put restrictions on China-affiliated investments in Washington's strategic sectors, including technology, critical infrastructure, healthcare, agriculture, energy, raw materials, and others.

The company's stock on the New York Stock Exchange slid 10.12% at 11:02 am ET, going for $129.25.

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