Treasury Secretary Steven Mnuchin said on Monday, June 25, that the investment restrictions on China reported by numerous media outlets were "false, fake news."
Mnuchin said that the investment restrictions, which had earlier been reported to target Chinese investors in the U.S., would instead apply to "all countries that are trying to steal out technology."
U.S. equities fell following Mnuchin's tweet but had been trending sharply lower throughout the session as Wall Street weighed a broader-than-expected ratcheting up worrying trade war threats. All three major U.S. stock indexes were down more than 1.3% on Monday.
Numerous media had reported President Donald Trump planned to bar Chinese companies from investing in technology firms based in the United States. Despite a wave of tweets Sunday and Monday, Trump hadn't mentioned the China investment restrictions on his own timeline yet. His commentary was limited to a broader statement on fair trade.
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