Alibaba (BABA) Stock Falling Amid Chinese Manufacturing Data

NEW YORK (TheStreet) -- Alibaba stock is slumping by 1.18% to $65.34 in mid-morning trading on Tuesday, after China released data that showed its manufacturing activity fell to a three year low in August. China's central bank devalued the yuan 2% last month in an attempt to boost its slowing economy through exports. The move ultimately triggered a global selloff and weeks of market volatility, as the country's economic future remains largely uncertain. The manufacturing data out today indicate...