Chinese web giant Tencent was added to a U.S. list of military-linked firms, spooking investors and triggering as much as a 7% plunge in its Hong Kong-listed shares.

This could be the start of a saga to rival TikTok’s troubles, and embroil Tesla and Microsoft The US Department of Defense has added Chinese messaging and gaming Tencent to its list of “Chinese military company”,

The Pentagon has designated two major high-profile tech companies — Tencent and CATL — as Chinese military companies operating in the US.

The Pentagon on Tuesday added Tesla battery-maker Contemporary Amperex Technology, or CATL, and internet and gaming giant Tencent Holdings to its list of companies it says have ties to the Chinese military.

The US Defense Department has added Chinese tech companies Tencent, a social media and gaming giant, and CATL, the world’s largest battery maker, to a list of firms that it alleges work with China’s military.

Shares of Tencent Holdings sank 7% in Hong Kong trading Tuesday after the WeChat parent was added by the U.S. Department of Defense to its list of "Chinese military companies."

The Doge department is a nod to the shiba inu doge meme that's also linked to the dogecoin cryptocurrency, named by Elon Musk as his "favorite" cryptocurrency and accepted as payment by his Tesla car company—though Tesla continues to hold around 10,000 bitcoin worth around $1 billion on its balance sheet.

U.S. stock futures are little changed after indexes were mixed Monday; Nvidia stock adds to all-time high after CEO comments; and Uber shares climb after it announces collaboration with Nvidia on autonomous driving.