Alibaba Group Holding Limited stock is trending on the Yahoo Finance Platform. Here is a visualization of $BABA performance over time, how that performance compares to the wider industry, and analyst projections for the current quarter.Check out the ticker page here.
China is the second largest economy in the world and investors may be pondering if it's time to add exposure to Chinese equities. The country has plenty of room left to expand when it comes to internet users growth, which could benefit Chinese tech companies.
Unfortunately, the latest rate hike came with a bit of collateral damage. With that as a backdrop, shares of Alibaba (NYSE: BABA) slipped as much as 5%, Amazon (NASDAQ: AMZN) stock was down as much as 3.1%, and Meta Platforms (NASDAQ: META) slipped as much as 2.8%. There was very little in the way of company-specific news behind the sell-off, but fears regarding the Fed's continued rate hikes and lower growth forecasts succeeded in dragging these technology stocks even lower.