Fears of increased of regulation from Beijing crushed U.S.-listed Chinese stocks on Friday following a Chinese government crackdown on private educators.
U.S. shares of TAL Education Group and New Oriental Education & Technology Group Inc, which provide tutoring and test preparation services in China, each dropped more than 50per cent after news that the government is barring tutoring for profit in core school subjects to ease financial pressures on families that have contributed to low birth rates.