'President Biden Aims To Stop Countries From Exploiting Americans' Data For Blackmail, Espionage; White House Worried About AI Being Used To Mine Information' - Bloomberg News
Portfolio Pulse from Benzinga Newsdesk
The Biden administration is preparing an executive order to prevent foreign adversaries from accessing sensitive personal data of Americans, which could be used for blackmail or espionage. The order will instruct the US Attorney General and Department of Homeland Security to issue restrictions on transactions involving such data, with national security implications.
January 23, 2024 | 2:55 pm
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The executive order may indirectly affect the SPY ETF as it could impact companies within the index that deal with sensitive personal data and are subject to new regulations.
While the executive order is focused on national security and data protection, it does not directly target the financial markets or specific companies. However, companies within the SPY ETF that handle sensitive data may face new compliance costs or operational changes, which could have a marginal impact on their stock performance. The overall effect on the SPY ETF is likely to be neutral in the short term, as the market digests the implications of the new regulations.
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