Since the Chinese New Year in 2023, demand for commuting, consumer trips, and trips to large transportation hubs in China has recovered quickly, driving the growth of Didi's China mobility business.

While the tenor was more bearish, the late-day rally found the market close to where it finished 2022.

For decades, the process for going public in the US was basically one size fits all, and that size was the IPO. Many Chinese companies have taken this path. Today, a company seeking to go public in the US can select from multiple processes.

This morning's selloff has deepened by midday, as investors assess how the rapidly spreading Covid-19 omicron variant could impact the holiday season.

In SPAC news this week, BuzzFeed is not expected to raise significant cash through its public listing since investors in the SPAC with which it is merging, 890 5th Avenue Partners, are reportedly withdrawing the bulk of their investments.