LexinFintech Holdings Ltd. (LX), a Chinese consumer lending firm, saw its stock plummet by 7.08% in pre-market trading on Monday. This significant drop aligns with a broader downturn observed in Asian equities traded as American depositary receipts (ADRs) in the US market.

The decline in LexinFintech's stock price comes as the S&P Asia 50 ADR Index fell 0.7% to 1,977.1, indicating a widespread retreat among Asian ADRs. This market-wide trend suggests that macro factors may be influencing investor sentiment towards Asian stocks, particularly those in the financial services sector.

LexinFintech was not alone in its decline. Other consumer lending firms also experienced significant drops, with Eason Technology (DXF) leading the decliners with a 10.3% fall. This pattern indicates a potential sector-specific challenge affecting Chinese consumer lending companies trading in the US market, possibly due to concerns about the Chinese economy or regulatory environment.