Walmart has sold its $3.6 billion stake in Chinese e-commerce firm JD.com, effectively ending their eight-year partnership amid a challenging environment for Chinese tech companies. The sale involved 144.5 million shares at a discount, leading to a sharp decline in JD.com’s stock. Walmart is refocusing its strategy in China on its own successful ventures like Sam’s Club, as JD.com, along with rivals like Alibaba and PDD Holdings, struggles with economic uncertainty and changing consumer behaviors. The decision reflects a broader trend of dissolving partnerships between online and offline retailers, as initial ambitions to merge physical and digital consumer experiences have fallen short. Despite the sale, Walmart and JD.com plan to continue cooperating, although the retailer is likely to allocate the proceeds to expanding its own stores in China.