FT News Briefing US tech stocks volatility, Apple’s commits to free speech and human rights policy, US space weapons
Sep 4, 2020
U.S. tech stocks face a significant downturn, causing investors to reevaluate market stability. Apple takes a bold step by introducing a human rights policy focused on freedom of expression, amid scrutiny over its practices in China. Meanwhile, the U.S. military is gearing up for potential threats from space-based weapons, highlighting a pressing need for modernization in defense strategies. Join in as experts dissect the challenges and implications of these critical developments in technology and national security.
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Tech Sell-off and Market Correction
- Tech stocks, which drove U.S. market highs, experienced a significant drop, causing the S&P 500 to fall 3.5% and the Nasdaq 5%.
- This correction suggests a pause in the tech rally, potentially allowing for broader market growth and reevaluation of tech valuations.
Apple's Human Rights Policy
- Apple published its first human rights policy, committing to freedom of information and expression after facing criticism for complying with censorship in China.
- However, the policy's effectiveness is questioned, as Apple's actions in China haven't changed.
U.S. Space Weapons Development
- The U.S. military is developing space weapons in response to perceived threats from China and Russia, who are believed to be testing similar technologies.
- This new space race reflects a shift in military strategy, with space now considered a "warfighting domain."