Why PDD Holdings, LVMH, and GDS Holdings Sank Today
PDD(PDD) The Motley Fool·2024-10-08 18:03China stocks and China-related stocks fell back to earth after a huge run-up over the past month.Shares of Chinese stocks PDD Holdings (PDD -5.95%) and GDS Holdings (GDS -6.41%), as well as European luxury brand giant LVMH Moët Hennessy (LVMUY -2.85%), sold off today, down 6.2%, 6.8%, and 3.1%, respectively, as of 1:15 p.m. ET.The across-the-board sell-off in Chinese and China-exposed stocks like LVMH came on the heels of disappointing news regarding hoped-for Chinese stimulus measures. Moreover, a new tari ...