Alibaba falls 3.4% in U.S. trading on $10.2 billion discounted share sale

PHM +1.07%

1. 1Alibaba (BABA) shares drop 3.4% in U.S. trading after announcing a discounted share sale to fund AI investments
2. 2The sale totals $10.2 billion; chipmakers also weaken, including Western Digital (SanDisk) down 5%, Coherent down 4.7% and Seagate down 3.2%
3. 3S&P 500 and Nasdaq 100 futures slip 0.2% and 0.6% respectively…market awaits Iran sanctions, Jackson Hole and Nvidia earnings

Source Investing.com +1 · View original ↗

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