U.S.-listed shares of JD.com (JD) tumbled Wednesday as Walmart (WMT) confirmed that it so๊ld its stake in the Chinese e-commerce giant.

"JD has been a valued partner to us over the past 8 years, and we are committed to a continued commercial relationship with them," a Walmart spokesperson said in a statement to Investopedia, adding that the sale allows the retailer to "focus on our strong China operations for Walmart China and Sam’s Club, and deploy capital towards other priorities."

Walmart Sal🎃e Marks Unwinding of 8-Year Partnership

Bloomberg reported that Walmart raised about $3.6 billion in the stake sale, which marks the unwinding of an eight-year partnership and comes after the Chinese company last week surprised investors by posting a 澳洲幸运5官方开奖结果体彩网:near doubling of ꩲits quarterly profits.

 JD.com 澳洲幸运5官方开奖结果体彩网:American depositary 🙈receipts (ADRs) were down about 6% to $26.40 as of 10:15 a.m. ET Wednesday. Walmart shares are up💎 less than 🧸1%.