U.S. Treasury Targets China-Based Network Manufacturing And Distributing Fentanyl
Portfolio Pulse from Benzinga Newsdesk
The U.S. Treasury is targeting a China-based network that is manufacturing and distributing Fentanyl, according to a statement cited by Reuters.
October 03, 2023 | 6:15 pm
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NEGATIVE IMPACT
The U.S. Treasury's action against a China-based network could increase tensions between the U.S. and China, potentially impacting the iShares China Large-Cap ETF (FXI).
The U.S. Treasury's action could escalate tensions between the U.S. and China, which could negatively impact Chinese stocks and ETFs like FXI that track them. This is due to potential retaliatory actions from China or a worsening of the overall investment climate.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
The U.S. Treasury's action could potentially increase geopolitical tensions, which may impact the SPDR S&P 500 ETF (SPY).
Increased geopolitical tensions due to the U.S. Treasury's action could lead to market volatility, which could impact broad market ETFs like SPY. Investors often react to geopolitical risks by selling off stocks, which could lead to a decrease in SPY's price.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 50