US-listed Chinese firms trade mostly lower

NEW YORK -- US-listed Chinese companies traded mostly lower on Tuesday, with eight of the top 10 stocks by weight in the S&P US Listed China 50 index ending the day on a downbeat note.

Shares of New Oriental Education & Technology Group and JD.com lost 3.05 percent and 2.05 percent, respectively, leading the decliners in the top 10 stocks in the index.

Shares of Pinduoduo and TAL Education Group rose 0.4 percent and 0.24 percent, respectively, the only two gainers in the top 10 stocks.

Wall Street's major averages dropped on Tuesday, following a slew of disappointing earnings reports.

The Dow Jones Industrial Average sank 205.49 points, or 0.77 percent, to close at 26,379.28. The S&P 500 was down 20.97 points, or 0.65 percent, to 3,218.44. The Nasdaq Composite Index fell 134.18 points, or 1.27 percent, to 10,402.09.

The Cboe Volatility Index, widely considered as the best fear gauge in the stock market, climbed 2.83 percent to 25.44.

As of Monday, the S&P US Listed China 50 index, which is designed to track the performance of the 50 largest Chinese companies listed on US exchanges by total market cap, stood at 4,148.06, marking a 4.57-percent increase for the month-to-date returns and a 30.97-percent gain for the year-to-date returns.