Shares of a number of Chinese internet companies fell sharply on Tuesday after several companies released disappointing performance reports, and the Turkish crisis continued to drag down emerging markets.

Alibaba Group Holding Ltd. (BABA) fell 3.1% on Tuesday, while JD.com (JD.com, JD) fell 3.8%. The Chinese e-commerce platform Vipshop Holdings Ltd. (Vipshop Holdings Ltd., VIPS) released a performance forecast for the third fiscal quarter that was lower than FactSet's average expectations.

Meanwhile, China's National Bureau of Statistics released retail sales data in China on Tuesday.

According to this data, retail sales in China increased 8.8% in July. According to Steve Nicolaus analyst Scott Devitt, the figure was lower than economists' previous forecast of 9% growth. Devitt wrote in the research report that although the Chinese government introduced measures to stimulate borrowing last month, the impact of US tariffs on China's retail industry seems to have exceeded analysts' previous expectations.

JD will announce results on Thursday, August 16, and Alibaba will announce results the following week.

Chinese internet companies were also under pressure on Tuesday, and analysts expressed concern about profit margins after game streaming company Huya Inc., HUYA (HUYA) released its latest results. iQiyi Inc. (IQ) fell 6.2%, and Bilibili Inc. (Bilibili Inc., BILI) fell 2.7%.

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