Tencent's $143 billion valuation slump becomes world's biggest
Chinese internet giant Tencent's stock has tumbled 25% since its peak in January, wiping $143 billion from its market value, the biggest ever slump worldwide as measured from the date of each stock's 52-week high. Earlier, Facebook's over $100-billion valuation slump became US stock market's biggest single-day wipeout. Tencent is Asia's second-largest company after e-commerce giant Alibaba Group.