Alibaba falls 3.4% in U.S. trading on $10.2 billion discounted share sale
BABA Alibaba Group Holding Ltd ADR
$119.34 -8.57%
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- 1Alibaba (BABA) shares drop 3.4% in U.S. trading after announcing a discounted share sale to fund AI investments
- 2The sale totals $10.2 billion; chipmakers also weaken, including Western Digital (SanDisk) down 5%, Coherent down 4.7% and Seagate down 3.2%
- 3S&P 500 and Nasdaq 100 futures slip 0.2% and 0.6% respectively…market awaits Iran sanctions, Jackson Hole and Nvidia earnings
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