Chinese Technology Stocks Drop as Trump Bans WeChat and TikTok in the U.S.

Global News

President Trump issued executive orders that prohibits US firms from doing business with TikTok and WeChat, two of China’s popular social media apps believed to be a threat to their national security. The order, which takes effect in 45 days, caused Tencent (owner of the messaging service WeChat) stocks to plummet after it was announced.