Why JD.Com Shares Are Falling During Tuesday's Session

JD.Com Inc JD shares are trading lower by some 3.79% to $31.84 going into the close of Tuesday's session. Multiple Chinese stocks have experienced a decline Tuesday, potentially in response to concerns arising from a COVID-19 outbreak in China. Additionally, the sector is being adversely affected by ongoing apprehensions regarding China's economic recovery.

What Else?

Per a recent report by CNBC, COVID infections could reach as many as 65 million cases per week by the time the surge peaks at the end of June.

Respiratory disease specialist Zhong Nanshan shared data on the new wave of infections during a recent medical conference in Guangzhou, as reported by CNBC.

Per CNBC, Zhong Nanshan indicated that the wave, which commenced in late April, was expected, with his modeling suggesting a potential surge of around 40 million weekly infections in China. He further projected that by the end of June, the weekly number of infections would reach its peak at 65 million.

According to data from Benzinga Pro, JD.Com has a 52-week high of $68.29 and a 52-week low of $31.67.