China stocks sink in U.S. markets on lack of Beijing stimulus news

Tencent, Alibaba and Meituan all tumble in midday trading

20241008 N China US stocks

U.S.-listed China stocks broke into a downward trend over disappointing government stimulus details. © Reuters

JACK STONE TRUITT, Nikkei staff writer

NEW YORK -- Major U.S.-listed Chinese stocks tumbled Tuesday following dampened enthusiasm for Beijing's fiscal support plan that had been fueling a recent rally.

The Nasdaq Golden Dragon China Index, which tracks Chinese companies listed in the U.S., was down 6.54% in midday trading, while overall U.S. markets were trading slightly up.

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