Stock Track | Gaotu Techedu Plummets 5.14% as Trump Threatens Massive Tariff Hike on Chinese Imports

Stock Track
Oct 11

Gaotu Techedu Inc. (GOTU) saw its stock plummet by 5.14% during Friday's trading session, as U.S.-listed shares of Chinese companies took a hit following President Donald Trump's threat of a "massive" increase in U.S. tariffs on Chinese imports. The online education firm's decline was part of a broader selloff affecting various Chinese stocks listed on U.S. exchanges.

The announcement sent shockwaves through the market, impacting companies across different sectors. E-commerce giants such as Alibaba Group Holding, JD.com Inc, and PDD Holdings experienced significant drops, falling between 5.9% and 6.9%. Other affected sectors included gaming, with Bilibili Inc sliding 7.8% and NetEase Inc down 2.2%, while search engine giant Baidu Inc shed 7%.

In the education sector, Gaotu Techedu's peers also suffered losses, with TAL Education Group and New Oriental Education & Technology Group Inc declining between 3% and 4.8%. The widespread impact of the tariff threat extended to various other industries, including electric vehicle manufacturers, music streaming services, and online brokerages, highlighting the vulnerability of U.S.-listed Chinese firms to geopolitical tensions and trade disputes between the two nations.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10