The stock market fell sharply anew on Wednesday, with all major indices ending in the red, as investor sentiment was dampened by Federal Chairman Jerome Powell’s bearish comments on the US economy, saying that the US’ tariff policies could drive up inflation and “move us further away from our goals.”
The tech-heavy Nasdaq dropped the hardest, down 3.07 percent. The S&P 500 declined by 2.24 percent, and the Dow Jones was down by 1.73 percent.
To come up with the list of the stocks that declined on Wednesday, we only considered the stocks with $2 billion market capitalization and $5 million trading volume.
An executive standing in front of their headquarters building, proudly symbolizing the company’s achievements.
Kingsoft Cloud Holdings Limited (NASDAQ:KC)
Kingsoft Cloud Holdings Limited (NASDAQ:KC) declined for a third straight day on Wednesday, losing 16.82 percent to end at $10.98 apiece as investors disposed of shares in the company following the announcement of a follow-on offer and private placement plans.
According to the company, it plans to offer 18.5 million American depositary shares (ADS) at a price of $11.27 apiece, with each ADS representing 15 ordinary shares.
The total number of ADS translates to 277.5 million ordinary shares.
According to the company, investors have the option to receive ordinary shares to be traded on the Hong Kong Stock Exchange (HKEX) instead of ADSs.
Concurrently, Kingsoft Cloud Holdings Limited, an existing shareholder, is planning to acquire 69.4 million shares through a private placement at the same price as the public offer.
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