News Snapshot:
Wall Street is worried China will retaliate against companies like Apple and Tesla after TikTok ban August 11, 2020 (This story is for CNBC Pro subscribers only.) The Trump administration’s ban on TikTok is worrying Wall Street about a possible retaliation from China, with some of the high-flying technology darlings as the targets. Analysts caution investors about U.S. stocks with revenue exposure to China like Apple and Tesla , among others. “We caution that the Chinese government has historically exercised wide discretion in pressuring foreign companies, particularly in periods of geopolitical tension,†AB Bernstein analyst Toni Sacconaghi told clients.
