Tencent plunges US$45bil after Trump’s WeChat ban

Though some confusion remains about the extent of the ban, at its most extreme it would prevent any US entity from transacting with Tencent, effectively freezing billions of dollars of commerce. — Reuters

Tencent Holdings Ltd dived more than 10% after US President 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 US$45bil (RM188.89bil) of market value after sliding by the most since October 2011 on an intraday basis. The vaguely worded executive order could potentially hammer not just the use of WeChat and WeChat Pay in the United States but extend to business relationships with some of America’s largest corporations.