Alibaba Stock (BABA), Yum China (YUMC).... Why are Chinese stocks selling off? Chinese LIQUIDATION?

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What's causing the liquidation of Chinese stocks? I think there's a few factors at play: delisting fears, macro economic pressures, and hedge fund deleveraging?

Alibaba Stock (BABA stock) down 6%+ today. Yum China (YUMC stock) down 15% today! JD.com (JD stock) down 8%+ today! PinDuoDuo (PDD stock) down 10%+ today! What is going on?

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