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On November 12th local time, the Nasdaq China Golden Dragon Index closed down 4.45%, with popular Chinese concept stocks falling. Xiaopeng Motors fell more than 10%, NIO fell more than 9%, JD.com, Bilibili, and Ideal Motors fell more than 7%, iQiyi fell more than 4%, Baidu fell nearly 4%, and Alibaba and New Oriental fell more than 3%.
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