News Snapshot:
Alibaba stock tumbles after report says Beijing wants to break up Alipay But that wasn’t the only piece of news that led to the stock’s decline. Investors are also concerned that Beijing is intensifying its ongoing crackdown on big tech, after regulators ordered internet firms — including Alibaba and Tencent — to stop blocking rivals’ links on their platforms. Alibaba ( BABA ) fell as much as 7% in Hong Kong, before trimming losses to 4.2% at the close. The stock has shed 46% since early November 2020, when Chinese regulators halted Ant Group’s giant IPO at the last minute,...
