NEW YORK, June 16 (Xinhua) -- U.S.-listed Chinese companies traded lower on Thursday with all the top 10 stocks by weight in the S&P U.S. Listed China 50 index ending the day on a downbeat note.
Shares of NetEase and Alibaba Group Holding dropped 7.81 percent and 6.09 percent, respectively, leading the losses in the top 10 stocks in the index.
Shares of Baidu and XPeng dipped 5.14 percent and 4.96 percent, respectively, also among the worst performers in the top 10 stocks.
U.S. stocks fell sharply on Thursday as sell-off continued on Wall Street amid rising recession fears.
The Dow Jones Industrial Average tumbled 741.46 points, or 2.42 percent, to 29,927.07. The S&P 500 lost 123.22 points, or 3.25 percent, to 3,666.77. The Nasdaq Composite Index shed 453.05 points, or 4.08 percent, to 10,646.10.
The Cboe Volatility Index, widely considered as the best fear gauge in the stock market, spiked 11.24 percent to 32.95.
As of Wednesday, the S&P U.S. Listed China 50 index, which is designed to track the performance of the 50 largest Chinese companies listed on U.S. exchanges by total market cap, stood at 2,658.16, marking an 8.36-percent gain for the month-to-date returns and a 10.75-percent loss for the year-to-date returns.
