Today Beijing’s streets today were littered with delivery vehicles as millions of packages were making their way to happy consumers following yesterday’s Singles’ Day sales. 

But despite 14.3 million USD in sales flowing through Alibaba’s payment service Alipay yesterday, and a whopping 467 million delivery orders passing through the Ali-backed Cainiao logistics system, all was not happy on the trading floor in New York.

Alibaba’s stock recovered in recent months from an all time low of $57.39 in September, but took a downward turn this week as Alibaba’s founder Jack Ma said that the next five to ten months with be tough for China, with certain economic factors continue to take their toll on the market.

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Cate Cadell

Cate is a tech writer. She worked as a journalist in Australia, Mongolia and Myanmar. You can reach her (in Chinese or English) at: @catecadell or catecadell@technode.com