Companies

U.S.-listed Chinese firms trade lower

NEW YORK
2020-03-19 05:37

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U.S.-listed Chinese companies traded roughly lower on Wednesday, 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 fell 8.57 percent, leading the losses in the top 10 stocks in the index.

Shares of Baidu and Yum China Holdings decreased 8.24 percent and 7.24 percent, respectively, also among the worst performers.

U.S. equities ended Wednesday's session sharply lower as panic selling continued on Wall Street amid coronavirus fears.

The Dow Jones Industrial Average decreased 1,338.46 points, or 6.30 percent, to 19,898.92. The S&P 500 was down 131.09 points, or 5.18 percent, to 2,398.10. The Nasdaq Composite Index erased 344.94 points, or 4.70 percent, to 6,989.84.

The Cboe Volatility Index, widely considered as the best fear gauge in the stock market, climbed 0.71 percent to 76.45 on Wednesday.

As of Tuesday, the S&P U.S. Listed China 50 index stood at 2,859.41, marking a 9.36-percent decrease for the month-to-date returns and a 9.72-percent decline for the year-to-date returns.
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