BlackRock, Wall Street firms reportedly steered billions to blacklisted Chinese companies

News Snapshot:

A congressional investigation found that Wall Street used billions of dollars of American retirement savings and other investments to buy shares in index funds that included several blacklisted Chinese companies, the Wall Street Journal reported Thursday. The probe, conducted by a bipartisan House committee empowered to devise strategies for the US to counter China, focused on world’s largest asset manager BlackRock, headed by Larry Fink, and index provider MSCI, the report said. BlackRock and MSCI did not immediately respond to Reuters requests for comment. The probe focused on world’s largest asset manager BlackRock and index provider MSCI. BlackRock CEO Larry...