Weibo (WB), the Chinese social media giant, saw its stock plummet by 5.05% in pre-market trading on Thursday, caught in a broader sell-off affecting Chinese ADRs and ETFs. The decline comes amidst a confluence of factors weighing on Chinese stocks listed in the US.

The sell-off in Chinese stocks intensified following disappointing earnings from e-commerce powerhouse PDD Holdings Inc. The company reported a less-than-anticipated 24% revenue growth for the December quarter, attributed to intensifying domestic competition and the impact of US tariffs. This news sent ripples through the Chinese tech sector, with other major players like Alibaba, JD.com, XPeng, and NIO all seeing declines of around 4% in pre-market trading.

Adding to the downward pressure, China's central bank maintained its key interest rate for the fifth consecutive month, disappointing investors who were hoping for more supportive monetary policy. This decision came in contrast to the Federal Reserve's reassuring tone on the impact of Trump administration tariffs and monetary policy outlook. Furthermore, reports of a potential executive order from the Trump administration to levy fines on China-made ships have heightened concerns about escalating US-China tensions. These factors collectively contribute to the negative sentiment surrounding Chinese stocks, including Weibo, as investors reassess the risks associated with Chinese ADRs in the current geopolitical and economic climate.