Vipshop Holdings Ltd. (VIPS) shares plummeted 8.28% in pre-market trading on Monday, underperforming the broader market amid a selloff in Chinese stocks listed in the U.S.
The slump in Vipshop's stock price came as Chinese American Depositary Receipts (ADRs) tumbled across the board. Tech giants Alibaba and JD.com both saw their shares decline around 5% in early trading.
The broad-based retreat in Chinese equities trading on U.S. exchanges comes amid ongoing concerns over regulatory crackdowns and economic headwinds in the world's second-largest economy. Investors appear to be retreating from riskier assets as they await further clarity on the policy landscape in China.
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