PDD Holdings' $55 Billion Stock Plunge Signals Deepening Issues in Chinese Economy

PDD's disappointing earnings report underscores broader economic challenges and shifting consumer behaviors in China.

PDD Holdings' stock plummeted 29%, erasing $55 billion in market value.
The company reported an 86% year-over-year revenue increase but still missed estimates.
CEO Chen Lei highlighted challenges including shifting consumer behavior and increased competition.
Other Chinese e-commerce giants like Alibaba and JD.com also saw stock declines.
China's broader economic slowdown is causing consumer caution and impacting retail sales.