X down: U.S. Steel stock falls 7 after President Joe Biden blocks takeover by Japanese giant Nippon Steel

Get the Full StoryThe acquisition was controversial as some argued foreign ownership over one of America s largest steel producers posed a threat to national security.

U.S. Steel NYSE: X stock was down more than 5 in midday trading Friday, after President Joe Biden blocked a nearly 15 billion takeover bid by Japan s Nippon Steel NISTF , arguing foreign ownership over one of America s largest steel producers posed a threat to national security.

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