Chinese technology companies traded in the U.S. plunged in pre-market trading on Monday, with iQiyi Inc. (IQ) leading the decline, as investors braced for the potential impact of escalating trade tensions between the U.S. and China if Donald Trump wins a second term as president.
The prospect of another Trump presidency, known for his tough stance on China and promises to impose steep tariffs on Chinese goods, has reignited concerns over the future of U.S.-China trade relations. This uncertainty has weighed heavily on Chinese stocks, particularly those in the technology sector.
iQiyi, a leading online video platform in China, saw its shares plunge 5.4% in pre-market trading, reflecting fears that heightened trade tensions could disrupt the company's operations and financial performance. Other Chinese tech giants, including Alibaba, JD.com, and Baidu, also experienced significant declines in their U.S.-listed shares.
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