
Shares of several Chinese stocks including Alibaba Group Holding Ltd (NYSE:BABA), NIO Inc (NYSE:NIO) and Baidu Inc (NASDAQ:BIDU) are trading lower Monday amid a COVID-19 outbreak in the country which has caused some business operations to cease.
What Happened: Major Chinese cities are scrambling to reduce operations following what is reportedly the worst COVID-19 outbreak in China since 2020.