Caixin
Mar 13, 2022 03:15 AM
FINANCE

Five-Stock Delisting Threat by SEC Sparks Rout of Chinese Shares in U.S.

The Nasdaq Golden Dragon China Index closed down 10.18% Friday, the largest decline since October 2008.
The Nasdaq Golden Dragon China Index closed down 10.18% Friday, the largest decline since October 2008.

U.S.-traded Chinese stocks suffered the worst daily decline Friday since the global financial crisis day after the Securities and Exchange Commission named five Chinese companies that could be removed from American stock markets for failing to meet audit requirements.

The Nasdaq Golden Dragon China Index, which tracks more than 90 Chinese stocks traded in the U.S., closed down 10.18% Friday, the largest decline since October 2008. That followed a 10% drop Thursday. The index has lost 34% this year after sinking 43% in 2021.

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