Nasdaq Slump Offsets Trading Plans as Chinese ADRs Drop
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Chinese shares in New York fell for the first time in three days as technology stocks followed a selloff in the Nasdaq Composite Index.
The Bloomberg gauge of the most-traded Chinese stocks in the U.S dropped 0.9 percent to 101.06 in New York, snapping a two-day advance of 4.4 percent. The Nasdaq sank 3.1 percent, the most since 2011. Sina Corp., owner of a Twitter-like social media service, slid to a nine-month low, and Qihoo 360 Technology Co., the country’s second-biggest search engine, had the biggest decline since November.