Alibaba'S Market Value Evaporated 71 Billion Dollars In 2015, And Its Share Price Fell 5%.

The entire stock market is falling.

It failed to achieve the expected return and the Yuan's devaluation again.

The Dow Jones index fell 193 points to open 17209 points, the S & P 500 index dropped 20 points to open 2064 points, and Nasdaq dropped 50.35 points to 4986 points.

According to yesterday's news, the people's Bank of China lowered the value of the renminbi by 1.6%, resulting in gold rising to its highest price of 1115 weeks in three weeks and the rise in the price of treasury bonds in the United States.

European stock markets also fell due to currency turmoil.

Chain stores announced results before the stock market opened on Wednesday morning: Macy's stock fell 4.8% to $64.24 after failing to achieve its expected earnings in the second quarter.

Profits fell to $217 million or 64 cents per share, less than 76 cents per share of FactSet.

Sales reached $6 billion 100 million, less than the consensus of $6 billion 220 million.

Chief executive Terry Lundgren said, "we are disappointed with the second quarter results, which are affected by many factors, which are related to the internal and macroeconomic environment of the company."

This is the sign that the US dollar hits the overseas tourists.

Macy also announced that they are working with Hongkong Lifeng retail group to establish a joint venture to set up online retailing in China.

Macy plans to go through Alibaba's Taobao mall later this year.

Began selling products in China.

Speaking of Alibaba, they also failed to achieve the expected revenue for the second quarter.

Chinese online retailers reported revenue of $3 billion 270 million, up 28% from the same period last year, but slightly less than the estimated $3 billion 380 million.

The stock price fell by 7.3% to $71.51 in early trading.

Although the year-on-year growth looks impressive, it is actually the slowest growth season since the company went public.

Alibaba has also announced a $4 billion stock buyback plan in the next two years, and hopes to expand its business to other countries outside China.

This year, the market value of Ali has evaporated more than 71 billion US dollars.

While China's economy has been growing at its slowest pace since 1990, Ali is also facing sales counterfeit.

Litigation.

Ma Yun's net asset value fell 2.4% to $31 billion 200 million, according to Bloomberg news.

Fossil announced its second quarter sluggish watch sales after the closing of the stock market on Tuesday, which means that "time" is no longer money for Fossil.

And when they admitted in the conference call that they were modifying the consumer preferences that had already changed, the shares fell more than 7% to 57.70 dollars.

Fossil failed to grasp the trend of wearable technology in a timely manner, which led its company to launch such products only in the autumn.

At the same time, the company's jewelry and leather products are sold well, but it is a pity that these are not their main products.

The strong US dollar has hurt Fossil company and has a negative impact on the next quarter's policy.