China Stocks in U.S. Suffer Worst Selloff Since October 2008
- Nasdaq Golden Dragon China Index plunged by 10% on Thursday
- Gauge sinks a day after posting biggest rally in over a month
This article is for subscribers only.
Chinese stocks listed in the U.S. endured their worst day of trading since the global financial crisis as traders were whiplashed by renewed regulatory concerns following another day of intense swings in Asia.
The Nasdaq Golden Dragon China Index plunged 10% on Thursday, its biggest slide since October 2008. American depositary receipts of megacaps like Alibaba Group Holding Ltd. and Baidu Inc. tumbled at least 6%, with electric-vehicle companies including Nio Inc. and XPeng Inc. each down more than 9%.