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President Trump has posted a new announcement on Truth Social, the social media platform. He wrote:
“The Fake News is reporting that I am SEEKING a “Summit” with President Xi of China. This is not correct, I am not SEEKING anything! I may go to China, but it would only be at the invitation of President Xi, which has been extended. Otherwise, no interest! Thank you for your attention to this matter.”
How Will Trump’s Statement Affect the Stock Market?
This latest post has the potential to affect the stock market. That’s because Donald Trump’s statement clarifying that he is not actively seeking a summit with President Xi could lead to uncertainty in the stock market, particularly affecting the iShares MSCI China ETF. Investors may interpret this as a sign of potential diplomatic tensions or a lack of immediate progress in U.S.-China relations, which could impact Chinese stocks. However, the mention of a possible visit to China at President Xi’s invitation might also be seen as a positive sign, potentially stabilizing investor sentiment.
Here are some of the stocks that might be affected:
iShares MSCI China ETF ((MCHI)).