Direxion Daily FTSE China Bull 3X Shares (YINN), an ETF that provides leveraged exposure to the Chinese market, experienced a sharp 24-hour plunge of 12.12% in overnight trading. This significant drop reflects growing concerns about the Chinese economy and its impact on various sectors.

The decline in YINN is part of a broader selloff affecting Chinese ETFs and ADRs. The FTSE China A50 Index Futures, a key benchmark for Chinese equities, fell by nearly 4%, setting a negative tone for Chinese stocks trading internationally. This downward pressure has led to substantial losses across multiple Chinese companies and ETFs.

Other notable declines in the Chinese market include: - PDD Holdings (PDD): down 7% - XPeng (XPEV): down 6% - JD.com (JD) and Li Auto (LI): both down 5% - Alibaba (BABA): down 4% The widespread nature of these losses suggests that investors are reevaluating their positions in Chinese equities, potentially due to economic concerns or geopolitical factors affecting the region.