China launches investigation into Alibaba for monopolistic behavior

China regulators announced an investigation into Alibaba Group for suspected monopolistic behavior. A probe has been launched into Alibaba's "choosing one from two" practice, the State Administration for Market Regulation said in a statement. The practice involves merchants being required to sign exclusive cooperation pacts preventing them from offering products on rival platforms. Financial regulators will also meet with Alibaba's Ant Group in the coming days, according to a separate statement by the People's Bank of China. Shares of Alibaba are down 3% to $247.42 following the news. Reference Link