U.S. Commerce Secretary Raimondo Reinforced That Protecting National Security Is Not Negotiable In Meeting With Chinese Counterpart On Thursday
Portfolio Pulse from Benzinga Newsdesk
U.S. Commerce Secretary Gina Raimondo emphasized the non-negotiable nature of protecting national security during a meeting with her Chinese counterpart on Thursday, according to a statement from the Commerce Department.
November 17, 2023 | 4:25 pm
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NEUTRAL IMPACT
The SPDR S&P 500 ETF Trust (SPY) may experience indirect effects from the U.S.-China meeting, as market sentiment can be influenced by international relations and national security discussions.
While the SPY ETF, which tracks the S&P 500, is not directly tied to U.S.-China relations, broader market sentiment can be affected by geopolitical tensions, which could in turn influence the ETF's performance.
CONFIDENCE 65
IMPORTANCE 40
RELEVANCE 50
NEGATIVE IMPACT
The iShares China Large-Cap ETF (FXI) may face volatility due to heightened U.S.-China tensions following Secretary Raimondo's remarks on national security.
The emphasis on national security by the U.S. could lead to increased scrutiny and potential regulatory actions against Chinese companies, which could negatively impact the performance of the FXI ETF that tracks large Chinese companies.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 70