Trump pulls the plug on TikTok

The Trump administration announced Friday that it will ban WeChat and TikTok from U.S. app stores starting Sunday. The order is a significant escalation against the two Chinese-owned apps that have massive user bases in the U.S.

WeChat users will also be banned from transferring funds and processing payments through the messaging apps starting Sunday.

The Commerce Department restrictions will also bar companies from providing internet hosting, content delivery networks or peering services for WeChat or use any of the app’s code, functions or services within the U.S. as of Sunday. The same restrictions will apply to TikTok starting Nov. 12.

The stock market did not react favorably to the news.

Read more from Chris Mills Rodrigo here.

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