US closes in red as TikTok, WeChat face ban

Friday, 18. September 2020 22:01

Major equity indexes in the United States finished the last trading session of the week in the red after the Commerce Department issued an order to ban the download of Chinese-owned apps TikTok and WeChat from September 20 unless a sale deal is reached. Meanwhile, a report suggested Attorney General William Barr is responsible for the TikTok deal falling through. In other business news, United Airlines notified the White House and the Congress it could furlough up to 16,000 employees unless the government aid is extended.

The Dow Jones Industrial Average plunged 0.88% at the closing bell. Boeing Co. was the worst performer, falling 3.66%. The Nasdaq 100 sank 1.30%, as Marriott International went down by 4.34%. The S&P dropped 1.12% with H&R Block Inc. stocks dropping by 7.47%.

The euro stood flat against the dollar to sell for $1.18494 at 4:04 pm ET.

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