Alibaba ADRs Tumble Most Ever After China Monopoly Probe (2)

Alibaba Group Holding’s U.S.-listed shares tumbled the most ever on concern over China’s inquiry into alleged monopolistic practices at the e-commerce company.

Affiliate Ant Group Co., the other pillar of billionaire Jack Ma’s internet empire, was also summoned to a high-level meeting over financial regulations. The pressure on Ma is central to China’s broader effort to rein in an increasingly influential internet sphere: Draft anti-monopoly rules released November gave the government wide latitude to restrain entrepreneurs who until recently enjoyed unusual freedom to expand their realms.

The Alibaba inquiry is “a warning that winds have shifted,” Bloomberg Intelligence said ...