US Stocks Fall as US-China Spat Continues

Wall Street’s main indexes fell more than 1% on Thursday, as technology stocks were hammered by fears that the U.S.-China trade spat could turn into a tech cold war between the two countries.



Beijing said Washington needs to correct its “wrong actions” for trade talks to continue after the United States blacklisted Huawei Technology Co Ltd last week.

Although the Trump administration temporarily eased curbs on the Chinese telecoms gear maker, tensions again mounted on Wednesday following reports that the United States was considering sanctions on Chinese video surveillance firm Hikvision.

Investors now fret that tit-for-tat tariffs and other retaliatory actions by the world’s two largest economies will crimp global growth, and especially hit the high-growth tech sector.

via Reuters

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza