NYSE’s Second-Guessing on China Delistings Sows Confusion
- Exchange might revert to its original plan to delist telecoms
- Whipsawed investors lose billions as Trump order takes effect
This article is for subscribers only.
Almost two months after President Donald Trump said he’s cutting off U.S. investment in companies tied to China’s military, confusion reigns on Wall Street over how to interpret his order. One certainty: Savers are losing billions.
The New York Stock Exchange is considering reversing course a second time to delist three major Chinese telecommunications firms after conferring further with senior authorities on how to interpret an executive order Trump issued Nov. 12, according to people familiar with the matter. Lawyers said the drama, whipsawing markets in recent days, is exposing the ambiguities of the government’s instructions.