TikTok Troubles, Get Your Green On: Saturday US Briefing
Something for the weekend.
The term "shamrock" derives from the Irish word, seamrog, which translates to "little clover."
Photographer: Getty Images/Getty Images EuropeHello from San Francisco, where we will celebrate St. Patrick a day early, with a parade down Market Street.
TikTok fans are on tenterhooks after the House of Representatives overwhelmingly passed a bill that would require the beloved short-video app’s Chinese parent to divest itself of the service in the US or remove the app altogether. TikTok has access to extraordinary amounts of US data and poses a security threat, according to Congress. Privately traded ByteDance doesn’t want to sell and will put up a fight in the courts. Stay tuned.
Stocks fell for a second week as investors sold off tech companies and a pile of options expiring Friday amplified market swings. The S&P 500 dropped 0.1%, paring gains this year to 7.3%. An index of unprofitable tech companies tracked by Goldman Sachs, meanwhile, has tumbled 18% in the year-to-date and is on track for its worst quarter since mid-2022.