The White House said in a statement on Monday night that US President Donald Trump signed an executive order to start developing an investment fund owned by the US government, according to Reuters.
Additional points
The fund could be used to obtain Tiktok benefits if an American buyer is located.
Tiktok has until early April to ensure an approved partner or buyer.
Trump wants the US to take a 50% participation in Tiktok.
Tiktok is cited as an example of a possible asset for the new sovereign background.
The Secretary of the Treasury, Scott Besent, and the nominated for Secretary of Commerce, Howard Lutnick, will lead the efforts to establish the fund, which may need the approval of the Congress.
Market reaction
At the time of writing, the dollar index (DXY) is recovering around 108.70, rising 0.28% in the day.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
