Biden Administration Official Says U.S. Won't Send Officials To Beijing Winter Olympics
Portfolio Pulse from Benzinga Newsdesk
The Biden Administration has announced that the U.S. will not send any officials to the Beijing Winter Olympics, marking a diplomatic boycott. This decision could impact U.S.-China relations and potentially affect markets sensitive to geopolitical tensions.
December 06, 2021 | 2:29 pm
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NEGATIVE IMPACT
The U.S. diplomatic boycott of the Beijing Winter Olympics could impact Chinese markets, potentially affecting the iShares China Large-Cap ETF (FXI).
The diplomatic boycott by the U.S. could lead to increased geopolitical tensions, which may negatively impact Chinese markets. FXI, being an ETF focused on large-cap Chinese stocks, could see a short-term negative impact.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEUTRAL IMPACT
The U.S. decision to diplomatically boycott the Beijing Winter Olympics could introduce volatility in U.S. markets, potentially affecting the SPDR S&P 500 ETF Trust (SPY).
While the direct impact on U.S. markets may be limited, the geopolitical tensions arising from the boycott could introduce some volatility, potentially affecting SPY. However, the overall impact is expected to be neutral in the short term.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 60