Shares of Alibaba Group Holding Ltd. BABA,
it sank 7.2% in pre-market trading on Thursday after Chinese regulators launched an antitrust investigation into the e-commerce giant, the Associated Press reported. This sale put Alibaba’s shares on track to open at the lowest level observed during regular sessions since July 7th. It also means stocks will open in bearish territory, which many on Wall Street say is marked by declines of 20% or more from a significant high. Since closing with a record $ 317.14 on Oct. 27, shares closed up 19.6% to $ 255.11 on Dec. 15, before matching some losses to close on Wednesday at $ 256. $ 18. A close of $ 253.71 or less would make the bear market “official.” In comparison, the iShares MSCI China MCHI ETF,
gained 0.9% from October 27 to Wednesday, while the S&P 500 SPX,
has gained 8.8%.