Why Tencent, Alibaba, and JD.com Stocks Dropped Today

Shares of Tencent (OTC: TCEHY), Alibaba (NYSE: BABA), and JD.com (NASDAQ: JD) fell 7.4%, 5.1%, and 4.3%, respectively, on Friday after the U.S. government took several actions against Chinese companies. President Trump placed bans on popular Chinese-owned social media platforms TikTok and Tencent-owned WeChat that go into effect in roughly six weeks. It could also damage trade relationships between the U.S. and China, making it more difficult for U.S. companies to source their products from Chinese manufacturers.