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Tencent plunges $45 billion after Donald Trump ordered ban of WeChat

Shortpedia

Content Team
Image Credit: shortpedia

Tencent dived more than 10% after Donald Trump ordered a ban on WeChat and transactions with the company that threatened to stifle its global business. China's largest gaming and social media company shed more than $45 billion of market value after sliding by the most since October 2011 on an intraday basis. The order by Trump will not only affect WeChat business in US but it can also affect its global business.