Tencent stock dropped by over 6% on Tuesday as the Chinese government's crackdown continued. Beijing’s latest steps to reign in online entertainment come in the wake of previous measures taken against e-commerce and online education companies.
A Chinese crackdown on tech caused several stocks to fall on Tuesday. Chinese companies listed in the United States suffered their biggest drop since the financial crisis of 2008.
Asian markets have begun to falter in the wake of rising COVID-19 infections. The Nikkei 225 and Hang Seng have both shown losses coming into this week
Asian markets fell as Chinese regulators cracked down on U.S.-listed tech stocks and Japan prepared to declare a COVID emergency right before the Olympic Games.
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