President Biden To Ban U.S. Sales Of Kaspersky Software Over Ties To Russia, Source Says
Portfolio Pulse from Benzinga Newsdesk
President Biden is set to ban U.S. sales of Kaspersky software due to its ties to Russia, according to a source. This move is part of broader sanctions and regulatory actions against Russian entities.
June 20, 2024 | 1:33 pm
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NEUTRAL IMPACT
The ban on Kaspersky software could lead to increased market volatility, impacting the SPY ETF which tracks the S&P 500. Investors may see short-term fluctuations as the market reacts to the regulatory actions.
SPY, which tracks the S&P 500, could see short-term volatility as the market reacts to the regulatory actions against Kaspersky. However, the overall impact on SPY may be limited given its diversified holdings.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 50
NEGATIVE IMPACT
The ban on Kaspersky software may have a more pronounced impact on VGK, an ETF that tracks European stocks, due to potential regulatory ripple effects in Europe.
VGK, which tracks European stocks, may be more affected by the ban on Kaspersky software due to potential regulatory ripple effects in Europe. This could lead to increased uncertainty and potential sell-offs in the short term.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 60