Tech stocks dropped sharply amid a market-wide sell-off on Friday triggered by news of a new Covid-19 variant discovered in South Africa. The S&P Global 500 fell 2.6% while the tech-heavy Nasdaq fell 2.2%. Some of the hardest hit stocks in Friday’s sell-off were ride-hailing companies Lyft and Uber, which respectively fell 5.6% and 3.7%, and rental company Airbnb, which fell 3.5%. Shares...
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Opinion Asia Policy
China’s Tech Crackdown Is a Geopolitical Play
It hardly bears repeating that 2021 was a rough year for China’s platform companies. The firehose of new regulations and rolling crackdowns on everything from data security to overseas listings cost Chinese shares—including those of Didi, Meituan, Pinduoduo, JD.com, Tencent, and ByteDance—42% of their cumulative value in the U.S. and Hong Kong. Not so long ago, China held up...
China Plans to Require Big Internet Firms to Gain Approvals for Deals
Beijing Olympics Covid-Tracker App Has Security Flaws
NFT Gaming Company Animoca Brands Raised $360 Million at $5 Billion Valuation
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