Chinese Internet Group Plunging Amid Speculation on Focus Media (FMCN) (SOHU) (SINA) (YOKU) (RENN) (BIDU)

A number of US-listed China-based stocks are plunging in late-afternoon trade as downside in shares of Focus Media (Nasdaq: FMCN) has intensified sharply over the last few minutes. Trading down about 20-30 percent following a negative note from known-short seller Muddy Waters, the stock is now down 62 percent.

Elsewhere: Sohu.com (Nasdaq: SOHU) down 4.2 percent, SINA (Nasdaq: SINA) down 10.2 percent, Renren (Nasdaq: RENN) down 8.4 percent, Youku.com (Nasdaq: YOKU) down 11.2 percent. Even Baidu.com (Nasdaq: BIDU) is moving lower, currently down 6 percent.

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