US Stock Market Move | Most popular Chinese concept stocks are mostly falling. New Oriental Education & Technology Group, Inc. Sponsored ADR (EDU.US) fell more than 5%.

On Thursday, the Nasdaq Golden Dragon China Index fell nearly 3%, with most popular Chinese concept stocks declining. New Oriental Education & Technology Group, Inc. Sponsored ADR (EDU.US) fell over 5%, TAL Education Group Sponsored ADR Class A (TAL.US) fell over 4%, Alibaba Group Holding Limited Sponsored ADR (BABA.US) fell by nearly 4%, UP Fintech Holding Ltd. Sponsored ADR Class A (TIGR.US) fell over 2%, and Futu Holdings Ltd. Sponsored ADR Class A (FUTU.US) fell over 1%. Additionally, the Shanghai Composite Index plunged over 2% intraday, while the Hang Seng Index fell over 1%. On the news front, U.S. bond yields remained at high levels above 5%, with expectations of global liquidity tightening weighing down on growth stocks. Combined with technical pressure around the 4200-point level for A-shares, any slight movement caused selling pressure to emerge.