Wall Street steered billions to blacklisted Chinese companies: probe, reports

News Snapshot:

(Reuters) - 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 on Thursday. The probe, conducted by a bipartisan House committee empowered to devise strategies for the U.S. to counter China, focused on world's largest asset manager BlackRock and index provider MSCI, the report said. BlackRock and MSCI did not immediately respond to Reuters requests for comment. Ties between the U.S. and China, the world's two largest economies, have been strained in recent years...