Chinese Technology Stocks Plunge, Suggesting US Sanctions Might Accelerate

Tencent in Trump administration's crosshairs

People visit Tencent's booth at the World 5G Exhibition in Beijing, China Nov. 22, 2019. Reuters/Jason Lee/File Photo

News Analysis

President Donald Trump’s executive order to ban Chinese apps TikTok and WeChat caused waves in the financial markets. While sanctions over the popular video sharing app TikTok was widely discussed in the past few weeks, a ban of WeChat—and potentially its parent, Tencent Holdings Ltd.—and beyond may be more impactful.