BABA is trading at $102.67 (2.2% down) after China announced sanctions on 10 US defense firms in retaliation for recent US tech blacklists that named the company, intensifying geopolitical and regulatory concerns.
- The stock is caught in a sharp global technology selloff as investors de-risk AI and growth names, pulling the Nasdaq and broader tech complex lower.
- Sentiment toward Chinese tech remains fragile as the tit-for-tat trade restrictions between Washington and Beijing continue to weigh on the sector.