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Wall Street Struggles to Avert Peril in Trump’s China-Stock Feud

June 17, 2020, 10:00 PM

Wall Street dodged the carnage of the U.S.-China trade war, but it could be among the biggest losers from the latest flashpoint between the two nations -- and it’s struggling to mount a defense.

Financial firms’ angst is focused on legislation pending in Washington that threatens to kick Chinese companies, including widely held behemoths like Alibaba Group Holding Ltd. and Baidu Inc., out of American stock markets. The crackdown, which U.S. lawmakers say will protect investors from fraud and safeguard national security, would impact much of the financial industry.

The New York Stock Exchange and Nasdaq Stock Market...

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