Fidelity cuts Ant Group's valuation in half to $144 billion after regulatory crackdown in China

Jack Ma, executive chairman of the Alibaba Group.
Mark Schiefelbein/AP PhotoFidelity cut Ant Group's implied valuation to $144 billion from $300 billion, according to regulatory filings.The decline in valuation comes after China imposed a regulatory crackdown on the fintech giant.Fidelity initially invested in Ant Group in June 2018 at a $150 billion valuation.Sign up here for our daily newsletter, 10 Things Before the Opening Bell.China's regulatory crackdown of Ant Group in recent months has