From Nasdaq:

Shares of PDD Holdings (NASDAQ: PDD) were falling today as the company was affected by the liquidation of China Evergrande Group. The stock was down 7.6% as of 12:20 p.m. ET on Monday.

U.S.-listed stocks, including PDD Holdings and the iShares MSCI China ETF (NASDAQ: MCHI), were down today, indicating broader fallout after the liquidation of China Evergrande Group.

PDD Holdings has continued to see gains as the company takes market share from Alibaba and JD.com with its popular social-commerce model. However, troubles in the Chinese economy are likely to impact the company sooner rather than later.

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Read more: Why PDD Holdings Stock Was Falling Today