China tech stock sell-off spreads to New York after Xi cements rule


HONG KONG — Heavy selling in China tech stocks spread from Hong Kong to New York on Monday as foreign investors were spooked by a Communist Party leadership overhaul that potentially paved the way for Chinese leader Xi Jinping to rule for life.

The Nasdaq Golden Dragon China Index, which tracks major Chinese companies traded on U.S. exchanges, plunged as much as 20% in early trading Monday.

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