Alibaba Shares Slide as AI Deal With Apple Faces US Scrutiny

Shares of Alibaba Group Holding Ltd. slumped after a report that the Trump administration has raised concerns over Apple Inc.’s potential deal with the Chinese technology firm.

Alibaba’s stock dropped as much as 4.8% on Monday in Hong Kong, leading declines on the Hang Seng China Enterprises Index. The broader gauge was down 1.4% before paring its drop.