Alibaba shares fall 2.16% premarket after pledging to scale back 'disorderly competition' in food delivery.

Alibaba Group Holding Limited fell 2.16% in premarket trading. The decline may be attributed to the company's recent pledge to scale back 'disorderly competition' in the food-delivery sector, which could impact its margins and growth prospects. Additionally, the weak job market in China and the aggressive discounting by competitors like Meituan and JD.com may have contributed to the negative sentiment surrounding the stock.