World stocks ended four days of gains on Friday after U.S. President Donald Trump cranked up simmering tensions with China by banning U.S. transactions with two popular Chinese apps, Tencent's WeChat and ByteDance's TikTok.
[NFA] U.S. President Donald Trump said on Saturday he supported a deal in principle that would allow TikTok to continue to operate in the United States, even as it appeared to conflict with his earlier order for China's ByteDance to divest the video app. Emer McCarthy reports.
Although the clock is ticking, pardon the pun, TikTok is not going down without a fight. Per Bloomberg and Reuters, the video-sharing app and its Chinese parent company, Bytedance, filed a complaint in a Washington federal court on Friday aiming to block the Trump administration’s upcoming ban, which is set to take effect on Sept. 20. The ban, announced by the Commerce Department earlier that day, will prevent any new downloads or updates to the app in the U.S.