US Stock Market Move | Nasdaq China Golden Dragon Index fell by 4% within a day. Popular Chinese concept stocks also fell.

On Tuesday, the Nasdaq China Golden Dragon Index extended its intraday decline to 4%, with popular Chinese concept stocks falling across the board. As of the time of publication, Futu Holdings Ltd. Sponsored ADR Class A (FUTU.US) fell more than 8%, TAL Education Group Sponsored ADR Class A (TAL.US) and XPeng, Inc. ADR Sponsored Class A (XPEV.US) both fell over 7%, Li Auto, Inc. Sponsored ADR Class A (LI.US) fell over 5%, and Alibaba Group Holding Limited Sponsored ADR (BABA.US) fell over 3%. On the news front, with the US stock market hitting new highs almost every day, the cost for foreign investors to "wait for a heavyweight stimulus from China" is evidently increasing. Chinese assets are under pressure, with the Hang Seng Index falling 2.84% today and the Shanghai Composite Index falling 1.39%.