Senate Committees May Hold Public Hearing On TikTok Crackdown Legislation As It Considers Next Steps
Portfolio Pulse from Benzinga Newsdesk
Senate committees are considering holding a public hearing on legislation aimed at cracking down on TikTok, as per Reuters citing Senate Commerce Committee Chair Cantwell. This move indicates a serious consideration of regulatory actions against TikTok, reflecting growing concerns over privacy and national security.
March 20, 2024 | 5:28 pm
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NEUTRAL IMPACT
The potential public hearing and subsequent legislation on TikTok could impact market sentiment, possibly affecting the SPY ETF as it reflects broader market trends.
While the direct impact of TikTok legislation on the SPY ETF, which tracks the S&P 500, may not be significant, broader market sentiment could be affected by regulatory actions against major tech companies, leading to potential short-term volatility.
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