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China Weighs Giving U.S. Full Access to Audits of Most Firms

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Why Baidu, Alibaba, and iQIYI Stocks Crashed Today

As the South China Morning Post (SCMP) reports, the U.S. Securities and Exchange Commission (SEC) just added five more China-based-but-U.S.-listed companies to its list of stocks at risk of delisting over disclosure concerns. Shares of Alibaba Group Holding Limited (NYSE: BABA), Baidu (NASDAQ: BIDU), iQIYI (NASDAQ: IQ), and Futu Holdings (NASDAQ: FUTU) are all down significantly in response. As of 10:30 a.m. ET, Alibaba stock is off 4.7%, Baidu 7%, and iQIYI 8.5%, and Futu Holdings is leading the sector lower with a 9.7% loss.

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