AstraZeneca Falls Most Since 2020 as China Probe Fears Mount (2)

AstraZeneca Plc shares plunged in London, erasing about £14 billion ($18 billion) of market value, amid escalating concerns over a Chinese probe into the UK drugmaker.

Traders cited a report from the Yicai news service released earlier in the day, with the stock’s losses snowballing during afternoon trading. AstraZeneca said it doesn’t comment on “speculative media reports including those related to ongoing investigations in China.” The company said it will “fully cooperate with Chinese authorities” if requested, in a statement.

The shares closed down 8.4%, the steepest one-day decline since March 2020. That took the stock to its lowest since ...