By Medha Singh

(Reuters) – U.S.-listed stocks of Alibaba (NYSE:), Baidu NASDAQ:), JD NASDAQ:.com fell along with other Chinese firms on Friday, as Didi Global Inc delisted from the New York Stock Exchange. The decision by ride-hailing firm Didi Global Inc to withdraw its listing added to concerns over tighter regulatory oversight at home and tensions Sino-U.S. relations.

Didi’s shares fell 6.5% to $7.29 after it was forced by Chinese regulators to list in Hong Kong. To raise $4.4 billion, Didi had previously priced its June IPO at $14 each.

Justin Tang of United First Partners Singapore, Head of Asian Research, stated that “it will now be a precedent for others U.S. listed companies, particularly those with data concerns.”

Ant’s failed IPO is the beginning of the crackdown. Already, the Chinese government has shown it is willing to go above and beyond what was expected by markets. The Chinese name will continue to be controversial for a long time.

Baidu, JD.com and Alibaba dropped between 4.5% – 5% respectively, as investors are wary of Beijing’s plans to target sectors such as education, gaming, and technology.

Education companies TAL Education and New Oriental Education & Technology Group fell 4.5% and 6%, respectively.

KraneShares CSI China Internet ETF lost about 4%. It is the lowest plumbing drop in two years. Pinduoduo (NASDAQ): Mobile game publisher Bilibili. (NASDAQ:) Operator of live streaming gaming platforms HUYA saw a drop in revenue between 5% to 6%.

The U.S. Securities and Exchange Commission has stated that Chinese companies that list on U.S. stock markets must reveal whether or not they are controlled or owned by government entities and show evidence of auditing.