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President Trump is increasing pressure on China, and this time he’s targeting capital markets. 

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On Thursday, Trump signed an executive order banning Americans from investing in a group of Chinese companies his administration says supply and support China’s military.

The order blocks American companies and individuals from owning shares directly or through funds that include any of reportedly 31 companies identified by the U.S., including large state-run aerospace, shipbuilding and construction companies as well technology companies.

CORONAVIRUS RECOVERY WILL STALL SAYS HARVARD ECONOMIST

Although the executive order did not mention specific companies by name, shares of technology and telecom companies, with significant government control, were lower, including China Telecom, China Mobile and China Unicom.

Ticker Security Last Change Change %
CHA CHINA TELECOM 34.02 -2.28 -6.28%
CHL CHINA MOBILE LTD. 33.12 -1.35 -3.93%
CHU CHINA UNICOM LTD. 6.78 -0.37 -5.18%

Some of these companies are listed on major U.S. exchanges, including the New York Stock Exchange which is owned by ICE and the Nasdaq.

The Nasdaq declined to comment on the developments, while inquires were still pending with the NYSE.

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Ticker Security Last Change Change %
ICE INTERCONTINENTAL EXCHANGE INC. 98.41 -1.58 -1.58%
NDAQ NASDAQ OMX GROUP INC 127.00 -2.79 -2.15%

This is a developing story. 

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