Companies

U.S.-listed Chinese firms trade lower

Xinhua News,NEW YORK
2020-03-17 05:56

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U.S.-listed Chinese companies traded lower on Monday, with all of the top 10 stocks by weight in the S&P U.S. Listed China 50 index ending the day on a downbeat note.

Shares of NetEase and JD.com dipped 11.43 percent and 11.26 percent, respectively, leading the losses in the top 10 stocks. Baidu and Trip.com Group both slid more than 10 percent, also among the worst performers.

U.S. equities plunged on Monday, as fresh stimulus measures from the Federal Reserve failed to calm markets amid intensifying virus fears.

The Dow Jones Industrial Average cratered 2,997.10 points, or 12.93 percent, to 20,188.52. The S&P 500 fell 324.89 points, or 11.98 percent, to 2,386.13. The Nasdaq Composite Index was down 970.28 points, or 12.32 percent, to 6,904.59.

The Cboe Volatility Index, widely considered as the best fear gauge in the stock market, jumped 42.99 percent to 82.69 on Monday.

As of Friday, the S&P U.S. Listed China 50 index stood at 2,968.66, marking a 5.9-percent decrease for the month-to-date returns and a 6.27-percent decline for the year-to-date returns.
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