Why did Alibaba shares fall more than 9% today? China fines e-commerce giant
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Alibaba (NYSE:BABA) started the week off on a rough note, as its shares fell more than 9% Monday in the wake of the Chinese e-commerce giant being fined by regulators in Beijing for improperly reporting details of some of its past acquisitions.

Over the weekend, China's State Administration for Market Regulation hit Alibaba (BABA) subsidiaries with a fine equivalent to $373,000 that was related to failing to file reports on five deals. The Chinese regulators also slapped Tencent Holdings (OTCPK:TCEHY) with a fine, a move which sent that company's shares down almost 4% on the day.
Alibaba (BABA) shares ended the day at $109.63, and have fallen almost 8% this year.
Along with Alibaba (BABA), losses also came from JD.com (NASDAQ:JD), down almost 4%; Baidu (NASDAQ:BIDU), which fell 5.7%; Weibo (WB), down more than 10% and NetEase (NTES), which gave up almost 5% on the day.
Last week, several Chinese tech stocks got a lift on reports that Beijing was set to launch a $220B stimulus package to improve China's infrastructure and support the country's economy.