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Walmart, Microsoft stocks fall as China's new export rules throw wrench into potential deal for TikTok

Shares of Walmart Inc. and Microsoft Corp. fell Monday, enough to pace the Dow Jones Industrial Average's premarket decliners, after China's move to tighten technology export rules threw a wrench in the companies' potential acquisition of TikTok's U.S. business. Walmart's stock dropped 1.9% and Microsoft shares shed 1.0%. The implied price declines would shave roughly 32 points off the Dow's price, while Dow futures edged up 2 points. China unveiled Friday export restrictions covering such computing and data processing technologies as text analysis, content recommendation, speech modeling and voice-recognition, saying technologies on the list can't be exported without a license from local commerce authorities. That could complicate talks between China-based ByteDance Ltd., the owner of TikTok, and potential buyers. Walmart and Microsoft were reportedly teaming up to make a bid for video sharing site TikTok. Read More...

Shares of Walmart Inc. and Microsoft Corp. fell Monday, enough to pace the Dow Jones Industrial Average’s premarket decliners, after China’s move to tighten technology export rules threw a wrench in the companies’ potential acquisition of TikTok’s U.S. business. Walmart’s stock dropped 1.9% and Microsoft shares shed 1.0%. The implied price declines would shave roughly 32 points off the Dow’s price, while Dow futures edged up 2 points. China unveiled Friday export restrictions covering such computing and data processing technologies as text analysis, content recommendation, speech modeling and voice-recognition, saying technologies on the list can’t be exported without a license from local commerce authorities. That could complicate talks between China-based ByteDance Ltd., the owner of TikTok, and potential buyers. Walmart and Microsoft were reportedly teaming up to make a bid for video sharing site TikTok.

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