Scalper1 News
Alibaba (BABA), JD.com (JD) and other Chinese stocks, along with Apple (AAPL) and other U.S. firms that do a lot of business in China, took hits Tuesday on the yuan’s devaluation against the dollar. The People’s Bank of China let the yuan depreciate nearly 2% vs. the dollar, and investors are worried that the devaluation will boost dollar-denominated debt for Chinese firms and hit dollar-based earnings. The move also raised concerns that the Scalper1 News
Scalper1 News