US Stock Market Move | Suspected of monopoly, Trip.com Group Ltd. Sponsored ADR(TCOM.US) opens investigation, pre-market plunges more than 16%

On Wednesday, Trip.com Group Ltd. Sponsored ADR (TCOM.US) plunged more than 16% in pre-market trading, to $63.40. In recent days, the State Administration for Market Regulation initiated an investigation into Trip.com Group Ltd. Sponsored ADR for suspected anti-monopoly behavior under the Anti-Monopoly Law of the People's Republic of China. Trip.com Group Ltd. Sponsored ADR stated, "The company will actively cooperate with the regulatory authorities, fully implement regulatory requirements, and work with industry stakeholders to build a sustainable market environment. Currently, all of the company's operations are running normally, and we will continue to provide high-quality services to our users and partners as always."