New York Stock Exchange

Technology giant Alibaba Group Holding Ltd. is working on a plan to list on a stock exchange in its home market, China, according to people familiar with the matter, more than three years after its blockbuster initial public offering in New York.

Weak economic data in China spurs global selloff, while Shanghai Composite declines nearly 7%.

A 7 percent slide in Chinese shares, sparked by weak economic data, rekindled worries over global growth on day one of 2016 trading.

The cut followed a global stock market rout in which China led with a 7.6 pct plunge Tuesday to its lowest level this year.

Dow Jones rises more than 300 points in first 2 minutes after opening following 3 days of market losses that erased close to $3 trillion globally.

Concerns about inflation, shares and interest rates raised after ‘Black Monday’ wiped billions off global markets.

A near 9-percent dive in China shares and a sharp drop in the dollar and major commodities sent investors rushing for the exit.

Within 30 minutes of the NYSE shutdown, the word spread on the Chinese Internet, and jokes came pouring in on China’s Twitter-like microblogging platform Weibo.