US Commerce Department adds 24 Chinese companies to entity list

The US Commerce Department announced on Wednesday that it added 24 Chinese companies to its 'entity list', citing assistance to build military islands in the South China Sea, as reported by Reuters.

Meanwhile, the US State Department said it decided to impose visa restrictions on certain Chinese individuals over actions in the disputed South China Sea.

Market reaction

These developments don't seem to be having a significant impact on market sentiment. As of writing, the S&P 500 futures were virtually unchanged on a daily basis at 3,443.