Stockbrokers stay away from Tencent after its $170 billion wipeout
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Tencent Holdings Ltd. has gone from being a market favorite to the world's largest stock loss as a result of China's extraordinary technology crackdown. The Chinese Internet behemoth has fallen 23% in July, putting it on track to have its worst month ever after losing roughly $170 billion in market value. According to Bloomberg statistics, this is the quickest evaporation of shareholder value in the globe over this time period.