Shares of Chinese tech giant Tencent Holdings Ltd. logged their first correction of 2017, falling more than 10% from their latest record high set last week after briefly surpassing Facebook Inc. in market value. The development comes during this week’s global pullback in tech stocks, particularly those which have recorded big 2017 gains. On Wednesday, the S&P 500’s tech sector suffered its third-worst trading day of the year while the Philadelphia Semiconductor Index slid 4.4%, its biggest decline of 2017.

Source: Wall Street Journal December 01, 2017 05:48 UTC