Trump signs order to create sovereign wealth fund that could buy TikTok

Donald Trump signed an executive order on Monday ordering the US treasury and commerce departments to create a sovereign wealth fund and said it may also be used to purchase the social media platform TikTok.

A sovereign wealth fund would act as an investment fund for the country, operating outside of the Federal Reserve and the treasury department. Few details were offered about the creation of the fund, which would require congressional approval, including where the cash for a potential fund would come from.