Shein, Temu report drop in sales, weighed down by US tariffs

PDD (PDD) shares are plunging as sales of Chinese online retailers Temu — which is owned by PDD Holdings — and Shein dropped sharply after tariff-driven price hikes, according to Bloomberg. US Treasury Secretary Scott Bessent says trade talks with China will begin Saturday, putting these measures back in the spotlight. To watch more expert insights and analysis on the latest market action, check out more Catalysts here.