Hot Chinese stocks slide broadly, with Pony.ai and Pinduoduo leading losses

On Tuesday, most major U.S.-listed Chinese stocks declined. Shares of autonomous driving company Pony.ai plunged more than 6%, while e-commerce giant Pinduoduo fell over 5%. Additionally, Kingsoft Cloud and Baidu each dropped by about 4%, and NIO and Li Auto also slid more than 2% respectively. Overall market sentiment remained cautious, with the technology and new energy vehicle sectors under notable pressure.