Key Takeaways
- DuPont shares tumbled Friday after a Chinese regulator said it was investigating the company’s operations in China.
- China’s State Administration for Market Regulation said it has opened a probe into whether DuPont China violated an anti-monopoly law.
- The investigation comes as China also announced retaliatory tariffs against the U.S. on Friday.
DuPont (DD) shares tumbled Friday after a Chinese regulator said it was investigating the company’s operations in China.
China’s State Administration for Market Regulation (SAMR) said Friday that it has opened an investigation into DuPont China over a suspected violation of the country’s anti-monopoly law.
The agency did not provide any additional information about how DuPont is alleged to have violated the law. In its latest quarterly report, DuPont said China sales accounted for about a fifth of its revenue for the fourth quarter and full year in 2024 at $584 million and $2.345 billion, respectively.
The investigation comes as China on Friday also said that it would match the 34% tariff that the Trump administration levied against the country in its tariffs announced Wednesday.
DuPont did not immediately respond to a request for comment.
The chemical giant’s shares were down more than 12% at $59.59 in Friday afternoon trading. Earlier in the session, they dropped to $56.18, their lowest point since late 2022.
:max_bytes(150000):strip_icc()/GettyImages-2171446489-9b1924506e294c238ba7dd227e636fce.jpg?w=1200&resize=1200,0&ssl=1&description=DuPont+Stock+Tumbles+as+Chinese+Regulator+Announces+Anti-Monopoly+Probe){kind=link}