Why PDD Holdings, LVMH, and GDS Holdings Sank Today

Shares of Chinese stocks PDD Holdings (NASDAQ: PDD) and GDS Holdings (NASDAQ: GDS), as well as European luxury brand giant LVMH Moët Hennessy (OTC: LVMUY), sold off today, down 6.2%, 6.8%, and 3.1%, respectively, as of 1:15 p.m. ET.The across-the-board sell-off in Chinese and China-exposed stocks like LVMH came on the heels of disappointing news regarding hoped-for Chinese stimulus measures. Moreover, a new tariff on imported brandy from the European Union didn't help.Chinese stocks have surged over the past month, with PDD Holdings up 55% over the past month and GDS Holdings up 21%, even counting today's sell-off. LVMH's 5.6% gain, while paltry compared to domestic China names, is still a hefty one-month return for any stock.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool