'U.S. Government Emails Hacked in Suspected Chinese Espionage Campaign' -Wall Street Journal Report
Portfolio Pulse from Benzinga Newsdesk
The Wall Street Journal reports that U.S. government emails have been hacked in a suspected Chinese espionage campaign. The ETFs FXI and SPY may be affected by this news.
July 12, 2023 | 4:15 pm
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NEGATIVE IMPACT
The suspected Chinese espionage campaign may negatively impact the iShares China Large-Cap ETF (FXI) due to potential regulatory actions or sanctions against China.
The news of a suspected Chinese espionage campaign hacking U.S. government emails could lead to increased tensions between the U.S. and China. This could result in regulatory actions or sanctions against China, which would likely negatively impact the iShares China Large-Cap ETF (FXI).
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
The SPDR S&P 500 ETF (SPY) may be affected by the news of the hacking due to potential impacts on the broader market.
The news of the hacking could lead to increased market uncertainty, which could negatively impact the broader market and thus the SPDR S&P 500 ETF (SPY).
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 60