U.S.-listed Chinese firms trade mostly lower

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NEW YORK, March 3 (Xinhua) -- U.S.-listed Chinese companies traded mostly lower on Wednesday with eight of the top 10 stocks by weight in the S&P U.S. Listed China 50 index ending the day on a downbeat note.

Shares of Baidu and NIO fell 7.99 percent and 4.07 percent, respectively, leading the laggards in the top 10 stocks in the index.

Shares of Alibaba Group Holding and Yum China Holdings rose 0.79 percent and 0.51 percent, respectively, the only two gainers in the top 10 stocks.

U.S. stocks finished lower on Wednesday amid a sell-off in tech names.

The Dow Jones Industrial Average decreased 121.43 points, or 0.39 percent, to 31,270.09. The S&P 500 was down 50.57 points, or 1.31 percent, to 3,819.72. The Nasdaq Composite Index shed 361.04 points, or 2.70 percent, to 12,997.75.

The Cboe Volatility Index, widely considered as the best fear gauge in the stock market, spiked 10.66 percent to 26.67.

As of Tuesday, the S&P U.S. Listed China 50 index, which is designed to track the performance of the 50 largest Chinese companies listed on U.S. exchanges by total market cap, stood at 5,855.04, marking a 1.9-percent gain for the month-to-date returns and a 12.07-percent rise for the year-to-date returns. Enditem

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