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The Nasdaq Golden Dragon China Index initially fell by 4.3%. Popular Chinese concept stocks Fangdd Network fell by 13%, Bilibili fell by 11%, Nio, New Oriental EDU & Tech, and XPeng fell by more than 7%, Pinduoduo and Li Auto fell by more than 5%, and NetEase, ZEEKR, Tencent, Baidu, and JD.com fell by at least about 4%