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The United States is getting ready to impose global sanctions on China over Xinjiang abuses, Bloomberg reported on Wednesday, citing sources familiar with the matter.

The sanctions are likely to target China’s Communist Party officials responsible for Xinjiang abuses, Bloomberg further added.

Market reaction

This headline doesn’t seem to be having a significant impact on market sentiment. As of writing, the S&P 500 Index was up 0.45% on the day at 3,114, the Dow Jones Industrial Average was flat at 25,814 and the Nasdaq Composite was gaining 0.88% at 10,249.