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U.S. Stocks Fall With Congress at Odds on Aid Bill: Markets Wrap
Bloomberg 12/18/2020 Kamaron Leach and Sarah Ponczek
(Bloomberg) U.S. stocks fell after Republican demands left Congress without a deal on a federal spending bill. Tesla Inc. edged higher in heavy trading ahead of its inclusion in the S&P 500.
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The benchmark index halted a three-day winning streak, though ended well of session lows with a late rally in aflood of trading volume associated with the quarterly expiration of options and futures on stocks and indexes. Almost 200 million shares of Tesla traded hands, four times the 30-day average, as funds benchmarked to the S&P 500 adjusted ahead of the carmaker’s Monday debut.
U.S. Blacklists More Than 60 Chinese Firms, Including SMIC
Bloomberg 12/18/2020 Bloomberg News
(Bloomberg) The U.S. Commerce Department announced it’s blacklisting Semiconductor Manufacturing International Corp., drone maker SZ DJI Technology Co. and more than 60 other Chinese companies “to protect U.S. national security.”
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“This action stems from China’s military-civil fusion doctrine and evidence of activities between SMIC and entities of concern in the Chinese military industrial complex,” the Commerce Department said in a statement.
Commerce Secretary Wilbur Ross confirmed the move in a Friday morning interview with Fox Business. It was reported first by Reuters overnight. Shares in SMIC, China’s top chipmaker, slid 5.2% Friday in Hong Kong on the news.
Dow Finishes Down 124, Nasdaq Gives Up 10 tvnewscheck.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from tvnewscheck.com Daily Mail and Mail on Sunday newspapers.
Government Leaders Clash Over Next Step for Trumpâs Ban on Chinese Stocks
Fight over Trumpâs executive order pits Treasury, Wall Street against State Department, Pentagon President-elect Joe Biden has sent signals that the U.S. will remain tough on China, from trade to technology. WSJâs Jonathan Cheng explains the new administrationâs policy approach and how China might respond. Photo: Lintao Zhang/AP By Updated Dec. 17, 2020 9:42 pm ET
President Trumpâs recent executive order prohibiting Americans from investing in companies tied to Chinaâs military complex has set up a fight in the highest ranks of government over how broad the list should be.