'U.S. Treasury Secretary Yellen Signals Support For Windfall Tax On Frozen Russian Assets' - Bloomberg News
Portfolio Pulse from Benzinga Newsdesk
US Treasury Secretary Janet Yellen has expressed support for a European Union plan to impose a windfall tax on profits generated by frozen Russian sovereign assets. The tax is seen as a sensible way to finance the reconstruction of Ukraine. The US is currently discussing the idea with the EU.
September 21, 2023 | 2:25 pm
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NEUTRAL IMPACT
The SPY ETF, which tracks the S&P 500, may be indirectly affected by this news as it includes companies with exposure to the European and Russian markets.
While SPY is not directly mentioned, it tracks a broad range of US companies, some of which may have exposure to the European and Russian markets. The proposed tax could potentially affect these companies, and by extension, the SPY ETF.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 50
NEUTRAL IMPACT
The VGK ETF, which tracks European stocks, could be impacted by this news as it includes companies that may be affected by the proposed windfall tax on frozen Russian assets.
VGK tracks European stocks and the proposed tax on frozen Russian assets could potentially affect European companies and economies. This could, in turn, impact the performance of the VGK ETF.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 70