Down $831 billion, China tech firm selloff may be far from over

Chinese technology companies have wiped out a combined $823 billion since their February peaks, and Beijing’s expanding crackdown on the sector is fueling investor concern that the selloff is far from over.

Authorities on Tuesday issued a sweeping warning to the nation’s biggest companies, vowing to tighten oversight of data security and overseas listings just days after Didi Global Inc.’s contentious decision to go public in the US. That has put further selling pressure on China’s biggest technology names including Tencent Holdings Ltd., Alibaba Group Holding Ltd., JD.Com Inc., Baidu Inc. and Meituan.