"Why Alibaba's Stock Plummeted on Wednesday"

Alibaba shares and other Hong Kong stocks tumbled to a 14-month low following a report on China’s economic growth falling short of expectations and declining home prices. The Hang Seng Index dropped 2.8%, with broader indexes and financial stocks also facing losses. Real estate companies experienced significant declines, and concerns about China’s economic recovery and the ineffectiveness of stimulus measures led to panic selling. Major Chinese internet firms significantly cut their external investments, influenced by the economic slowdown, regulatory challenges, and geopolitical tensions.