On 15 August 2018, Tencent reported a profit decline in the second quarter of 2018, ending a growth streak of more than a decade, as investment gains slid and the government's scrutiny of the gaming business weighed on the company.[103] Shares of internet giant Tencent Holdings Ltd. fell 3% in morning trade in Hong Kong after the rare drop in quarterly profit was reported, extending a slide that has wiped nearly $50 billion in market value from the company in that week.[104] The sell-off dragged down many other Chinese internet stocks as well.[104]