U.S.-listed Chinese firms trade lower

NEW YORK, Sept. 21 (Xinhua) -- U.S.-listed Chinese companies traded lower on Wednesday 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 NIO and Li Auto shed 10.34 percent and 8.84 percent, respectively, leading the losses in the top 10 stocks.

Shares of Trip.com Group and Pinduoduo tumbled 8.5 percent and 5.46 percent, respectively, also among the worst performers in the index.

U.S. stocks fell sharply on Wednesday after the Federal Reserve raised rates by 75 basis points for a third straight time this year in a bid to tame inflation.

The Dow Jones Industrial Average plunged 522.45 points, or 1.70 percent, to 30,183.78. The S&P 500 dropped 66 points, or 1.71 percent, to 3,789.93. The Nasdaq Composite Index decreased 204.86 points, or 1.79 percent, to 11,220.19.

The Cboe Volatility Index, widely considered as the best fear gauge in the stock market, rose 3.06 percent to 27.99.

As of Tuesday, 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 2,606.97, marking a 5.49-percent decrease for the month-to-date returns and a 12.47-percent loss for the year-to-date returns.

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