Shares of H&M, Nike Inc. and others have said to have plummeted after Chinese government officials endorsed the boycott and celebrities cut ties with brands including Adidas, New Balance and Japan’s Uniqlo.
The ship was on its way from China to Rotterdam, Netherlands, when it ran aground in the Suez Canal after being reportedly hit by a strong "gust of wind"
After the sanctions, the US assets of the sanctioned Chinese officials will be frozen and Americans will be prohibited from doing business with these officials.