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Wall St. Drops As Tech Stocks Tumble On Huawei Fallout Fears

Credit: Wochit News
Published on May 20, 2019 - Duration: 00:51s

Wall St. Drops As Tech Stocks Tumble On Huawei Fallout Fears

U.S. stocks fell on Monday, as a crackdown on China’s Huawei Technologies raised concerns of a bigger impact on chipmakers and added to fears of an escalation in trade war between the two nations.

U.S. suppliers of Huawei, including Qualcomm, Micron Technology and Broadcom Inc, fell about 5%, while the Philadelphia Semiconductor Index slid 2.88%, its lowest level in over two months.

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Wall St. Drops As Tech Stocks Tumble On Huawei Fallout Fears

PHOTO TAKEN THURSDAY, MAY 16, 2019 FRIDAY, MAY 3, 2019 FILE PHOTO DEC.

18, 2018, FILE PHOTO

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