SHANGHAI — Alibaba’s Singles’ Day sale cleared $74.1 billion, the company said just after midnight Thursday, just about doubling its takings from the $38.4 billion the Internet giant recorded last year and reflecting the festival’s new format, which expanded from a single 24-hour period on Nov. 11 to include three additional days from Nov. 1 to 3.

As spectacular as those numbers were, e-commerce’s biggest sale of the year was clouded by concerns over regulatory risk. The release of a Chinese antitrust draft proposal defining anticompetitive behavior limits caused Alibaba’s…

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