27.07.2021 - 02:02 [ Bloomberg.com ]

Technology – China Crackdown Rocks Investors: ‘Everybody’s in the Crosshairs’

The crash in tutoring stocks that began late last week spread Monday across the tech sector and beyond, after authorities confirmed reports they would ban a swathe of the education industry from making profits. It’s the government’s most extreme step yet to rein in private businesses that regulators blame for exacerbating inequality, increasing financial risk and — in the case of some tech titans –- challenging Beijing’s authority.