Senate Majority Leader Schumer Said Democrats Will Amend Defense Policy Bill To Impose Sanctions On China And Declare National Emergency Over Fentanyl; Schumer Said He Hopes China Amendment Will Pass With Strong Bipartisan Support
Portfolio Pulse from Charles Gross
Senate Majority Leader Schumer announced that Democrats will amend the defense policy bill to impose sanctions on China and declare a national emergency over Fentanyl. Schumer expressed hope that the China amendment will pass with strong bipartisan support.
July 16, 2023 | 4:10 pm
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NEUTRAL IMPACT
The S&P 500 ETF (SPY) could experience some volatility due to the proposed sanctions on China, given the global interconnectedness of markets.
While SPY tracks primarily US companies, the global interconnectedness of markets means that significant geopolitical events, such as sanctions on China, could cause volatility in the ETF.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 60
NEGATIVE IMPACT
The proposed sanctions on China could negatively impact the iShares China Large-Cap ETF (FXI), which tracks the performance of large-cap Chinese equities.
The proposed sanctions on China, if passed, could create a challenging environment for Chinese companies, potentially leading to a decrease in their stock prices. As FXI tracks these companies, it could also be negatively impacted.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80