Shares of iQiyi Inc. (IQ), a leading online video platform in China, experienced a pre-market plunge of 6.59% on Monday 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 its 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, such as iQiyi.
Analysts fear that heightened trade tensions could disrupt iQiyi's operations and financial performance, leading to a sell-off in the company's shares. Other Chinese tech giants, including Alibaba, JD.com, and Baidu, also experienced significant declines in their U.S.-listed shares due to similar concerns.
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