Apple and Nike could face retaliation from the communist party inside China. If either company was booted out of China, it would result in a serious correction for the stocks.
Fears have been raised that President Trump’s TikTok ruling – banning the app in the United States unless US operations are bought by an American company – could see China take revenge on Apple.
Two government-backed Chinese newspapers have both suggested that the White House ruling is unacceptable, and demands a response.
CNBC’s Jim Cramer, Carl Quintanilla and David Faber discuss how Robinhood is impacting the market.