Alibaba Plunges as Trump's Order Threatens U.S. Listings

Alibaba Group's shares have taken a tumble in recent trading sessions, as investors grapple with the potential implications of U.S. President Donald Trump's executive order targeting Chinese technology companies. The order, signed on November 12, prohibits U.S. investments in companies deemed to be owned or controlled by the Chinese military, a move that has sparked concerns about the future of U.S.-China trade relations.

The executive order has cast a shadow over the Chinese tech sector, with Alibaba being one of the most prominent companies affected. The e-commerce giant's shares have fallen by more than 10% since the order was announced, as investors worry about the potential impact on the company's U.S. listings and access to American capital markets.

Alibaba, founded by Jack Ma in 1999, has long been a symbol of China's tech industry and a darling of international investors. The company's success has been built on its innovative business model, which has allowed it to capture a significant share of the global e-commerce market. However, the company's close ties to the Chinese government and military have raised concerns among U.S. officials, who have accused the company of being a vehicle for Chinese state-sponsored espionage.

The U.S. government's concerns about Chinese tech companies are not new, and have been a source of tension between the two countries for several years. In recent months, the U.S. has taken a series of measures to restrict the activities of Chinese tech companies, including the addition of several companies to the U.S. government's "Entity List," which prohibits U.S. companies from doing business with them without special approval.

The executive order is the latest in a series of moves by the Trump administration to restrict Chinese tech companies, and has been seen as a response to growing concerns about the security of U.S. technology supply chains. The order has been criticized by some as being too broad and vague, and has raised concerns about the potential for retaliation from China.

The impact of the executive order on Alibaba and other Chinese tech companies remains to be seen, but the company has already taken steps to distance itself from the Chinese military. In a statement released on November 13, Alibaba said that it "does not have any relationship with the Chinese military" and that it "strongly opposes any false accusations."

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