Stocks of S. Korean EV battery firms plummet after Tesla announced plans to manufacture own batteries
Trump expected to order TikTok to sell US operations
US President Donald Trump is expected to sign an order forcing Chinese company ByteDance to sell its US operations of TikTok.
There are concerns that the Chinese-owned TikTok may be a national security risk.
The US is conducting a security review of TikTok to support a policy recommendation to Trump, according to Treasury Secretary Steven Mnuchin.
ByteDance has reportedly been looking into the possibility of selling a majority stake in TikTok.
Microsoft is in talks to acquire TikTok, according to the New York Times report.
There are worries that the data TikTok collects on its US users could end up in the Chinese government's hands. However, TikTok claims it stores its data outside of China and would resist any Chinese government's attempts to seize the information.
Cybersecurity experts said that TikTok's potential risk to national security is mostly theoretical, with no evidence suggesting that Chinese intelligence compromised its user data.