China Stock Losses in U.S. Top $1 Trillion on Delisting Fear

The Didi announcement marks a stunning reversal of fortunes after the firm raised $4.4 billion in an initial public offering in late June. Photo: Bloomberg

(Bloomberg) — A brutal 2021 selloff for Chinese stocks trading in the U.S. has now erased more than $1 trillion in value since February and shows no signs of easing as regulators on both sides of the globe continue to put pressure on the firms.

The Nasdaq Golden Dragon China Index — which tracks China-exposed firms listed in the U.S. — plunged 9.1% on Friday, the most since 2008, after Didi Global Inc. said it plans to delist its shares from the New York Stock Exchange. The slump came amid a broader drop in equities on the day, with technology shares bearing the brunt of the decline.