Alibaba's stock price fell sharply in the U.S. stock market on the evening of the 24th because the company was announced that morning that it was investigated by the State Administration for Market Regulation for suspected monopolistic behavior. This incident triggered market concerns about the company, which led to sharp fluctuations in its stock price. Alibaba's market value has therefore been greatly reduced. According to the current exchange rate, it is approximately equivalent to 700 billion yuan evaporated.

This degree of market value shrinkage is usually called a "circuit breaker" in the stock market, which reflects investors' concerns that the company's future performance may be negatively affected.