Investing in China Gets More Complicated as Tensions With the U.S. Rise
The New York Stock Exchange has cut three companies from the Big Board. Will things change in a Biden administration?
From its historic trading floor to the $126 billion worth of shares exchanged daily to the bell that marks the open and close of the trading day, the New York Stock Exchange is a symbol of both the might and the reliability of U.S. financial markets.
Yet over the course of a week, the exchange made a series of embarrassing U-turns on whether it would continue to list three large Chinese companies. The incident underscored the tensions with China that President-elect Joe Biden is set to inherit. Along the way, the NYSE was rebuked by Treasury Secretary Steven Mnuchin, was criticized by officials in both countries, and sowed confusion among investors.