Chinese tech stocks enter bear market

Chinese technology stocks parted company with U.S. peers long before Wednesday, when they dropped after Tencent Holdings Inc. reported its first earnings decline in a decade. The Invesco China Technology exchange-traded fund started this month in a bear market after sliding more than 20 percent from a peak on Jan. 26. Wednesday’s slump extended the loss to 30 percent. The larger drop contrasted with a 4.9 percent gain for the Invesco QQQ ETF, tracking the Nasdaq-100 Index, in the same period.