Alibaba, Tencent lead $290b tech selloff as China clamps down on internet firms

Alibaba, Tencent lead $290b tech selloff as China clamps down on internet firms

Photo: Pixabay

Chinese technology giants from Alibaba Group Holding Ltd. to Tencent Holdings Ltd shed almost $290 billion of market value over two days of frantic selling, as investors scrambled to assess the fallout from Beijing’s broadest attempt to rein in its most powerful private-sector firms.

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