The Nasdaq Golden Dragon China Index, a key gauge tracking U.S.-listed Chinese companies, fell more than 2%.
Shares of Baidu (BIDU) experienced a sharp decline, dropping over 7%.
NIO Inc. (NIO) and XPeng Inc. (XPEV) also saw significant losses, each falling more than 3%.
Alibaba's (BABA) shares were down, declining over 1%.
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