Yuan, Futures Slide On Reports Trump Administration Expands China Tech Blacklist

US equity futures are sliding as Asian markets open after a NYTimes report that the Trump administration is considering limits to a Chinese video surveillance giant’s ability to buy American technology.

Hangzhou Hikvision Digital Technology, a company controlled by the Chinese government, is now the world's largest supplier of video surveillance equipment, with internet-enabled cameras installed in more than 100 countries.

The move would effectively place the company on a United States blacklist, and as NYT notes, it also would mark the first time the Trump administration punished a Chinese company for its role in the surveillance and mass detention of Uighurs, a mostly Muslim ethnic minority.

And this escalation has sparked selling in stocks...

Congress and the administration have responded with other measures that may clamp down on Hikvision’s business. Congress included a provision in its 2019 military spending authorization bill that banned federal agencies from using Chinese video surveillance products made by Hikvision or Dahua.

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