Here’s what you need to know about the impact of Covid-19 to navigate the markets today.
• Portland police are investigating a 48 year-old man in the fatal Saturday night shooting of a right-wing protester, the Oregonian reports. Michael Forest Reinoehl, who lives in the Portland-area and calls himself an antifascist, is being investigated in connection with the shooting, the newspaper said. The victim in the shooting has been identified as Aaron Danielson, a supporter of the far-right Patriot Prayer group who also went by the alias Jay Bishop. The shooting happened after a caravan of cars and trucks carrying supporters of President Donald Trump clashed with protesters demonstrating against police killings of African-Americans. President Donald Trump said he would visit Kenosha, Wis., which has been the site of protests in the wake of the police shooting of Jacob Blake, a black man, on Aug. 23. Two demonstrators were shot and killed in Kenosha after Kyle Rittenhouse opened fire on protesters. Rittenhouse has been charged with first-degree homicide.
• China’s manufacturing Purchasing Manager’s Index stayed in expansionary territory but slipped to 51.0 in August, down from 51.1 in July, the country’s National Bureau of Statistics said Monday. A reading above 50 indicates expansion, while a number below indicates contraction. The data came in just below the 51.2 that analysts polled by Reuters had been expecting.
• TikTok’s sale to an American buyer has been complicated by new Chinese rules on the export of artificial-intelligence technology, The Wall Street Journal reports. On Friday, China rolled out new regulations that prohibit the export of technology like text-analysis, content recommendation and voice-recognition without a license from local authorities. That forced TikTok’s Beijing-based parent company, ByteDance Ltd., to slow down negotiations with possible American buyers like
(ORCL) because the parties involved in the talks don’t fully understand the new rules, according the to the WSJ. “We are studying the new regulations that were released Friday,” ByteDance General Counsel Erich Andersen said in a statement to the WSJ. “As with any cross-border transaction, we will follow the applicable laws, which in this case include those of the U.S. and China.”
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