Chinese Tech Stocks Slump as Nasdaq's Golden Dragon Index Dips

Group 1: Major Stock Movements - Major Chinese stocks saw significant declines, with the Nasdaq Golden Dragon China Index (HXC) dropping by 6.85% [1] - Notable decliners included Alibaba (BABA) down by 6.66%, Pinduoduo (PDD) down by 5.38%, JD.com (JD) falling by 7.52%, and NetEase (NTES) decreasing by 5.14% [1] - Travel service company Trip.com (TCOM) experienced a sharp decline of 10.05%, while Baidu (BIDU) and Li Auto (LI) saw losses of 7.39% and 8.10% respectively [1] Group 2: Other Notable Declines - New Oriental Education & Technology (EDU) fell by 4.76%, Huazhu Group (HTHT) by 2.41%, and XPeng (XPEV) by 7.34% [2] - Bilibili (BILI) experienced a significant drop of 12.93%, while Weibo (WB) tumbled by 12.38% [2] - Lufax Holding (LU) recorded a steep downturn of 14.36% [2] Group 3: Broader Market Trends - In the broader U.S. market, stocks closed higher, with technology shares leading the rally [2] - The Dow Jones Industrial Average rose by 126.13 points, or 0.30%, to 42,080.37 [2] - The Nasdaq Composite increased by 259.01 points, or 1.45%, to 18,182.92, and the S&P 500 gained 55.19 points, marking a 0.97% rise to close at 5,751.13 [2]