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Alibaba stocks dive as Trump threatens to blacklist company

January 7, 2021

Via: Charged

Alibaba’s shares have dropped on both the New York and Hong Kong stock exchanges following a report that the company could be blacklisted by the Trump administration.

The Chinese retail giant’s stock dropped 3.9 per cent in Hong Kong trading yesterday after the Wall Street Journal reported that the US government could ban investments in the company.

The Trump administration is believed to be considering adding Alibaba and tech giant Tencent, China’s two most valuable companies, to its blacklist of Chinese companies it believes has ties to the country’s government and military.

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