S&P 500 Futures: Drop to lows after US Pres. Trump signs executive orders against WeChat, TikTok
|Amid US fiscal standoff, the risk sentiment is receiving another blow on the US-China front, as US President Donald Trump signs two executive orders against two Chinese applications (apps).
The move is to address the security threats posed by TiktTok and WeChat.
President Trump signed the order on ByteDance to divest TikTok.
Additional details
Trump has signed an executive order beginning in 45 days halting any and all the transactions with ByteDance.
“Any company still doing business with TikTok in 45 days is subject to sanctions.”
“It may be used for disinformation campaigns that benefit the Chinese Communist Party.”
“The US must take aggressive action against the owners of TikTok to protect our national security.”
S&P 500 Futures hit lows
With the market mood worsening, the risk gauge, S&P 500 futures quickly retraced from highs and hit session lows near 3338 on the above announcement.
The US futures trade with modest losses amid negative Asian equities.
AUD/USD, in the meanwhile, remains pressured around 0.7225 following RBA’s Statement on Monetary Policy (SoMP).
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.