China Business & Economy

Alibaba Loses $30 Billion as Political Connections Turn Sour

Alibaba's chairman Jack Ma, on Nov. 19, 2014, at the opening ceremony of the World Internet Conference in Wuzhen, Zhejiang province, China. Jack Ma's company Alibaba lost $20 billion in market cap on Thursday after getting into a spat with a Chinese regulator, as the company's once helpful political ties begin to trip it up. (Fabrice Coffrini/AFP/Getty Images)
Alibaba's chairman Jack Ma, on Nov. 19, 2014, at the opening ceremony of the World Internet Conference in Wuzhen, Zhejiang province, China. Jack Ma's company Alibaba lost $20 billion in market cap on Thursday after getting into a spat with a Chinese regulator, as the company's once helpful political ties begin to trip it up. (Fabrice Coffrini/AFP/Getty Images)

News Analysis Alibaba, the Chinese e-commerce conglomerate that made the biggest IPO in U.S. history last September, had over $30 billion wiped from its market...

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