Wednesday, June 19, 2019
Home Business Huawei boycott sends down US exchanges

Huawei boycott sends down US exchanges

New York Stock Exchange

Especially for the technology sector, the measures of the US government against Huawei have consequences.

(Photo: AP)

new YorkBecause of the trade dispute between the US and China, investors have withdrawn from the New York stock exchanges on Monday. Investors were in for a headache over Huawei after the US blacklisted the Chinese network equipment company. The chance of a quick resolution of the tariff conflict between the world's two largest economic powers is low, said analyst David Madden of the online broker CMC Markets. Above all, technology stocks stood on the sales lists of stockbrokers.

Overview of the most important indices

The Dow Jones Index of Defaults dropped 0.3 percent to 25,679 points. The broader S & P 500 dropped 0.7 percent to 2840 meters. The index of the technology exchange Nasdaq decreased by 1.5 percent to 7702 points.

Single values ​​in focus

Google's mother Alphabet partially closed its relationship with Huawei. The government in Beijing will certainly not stand idly by, underlined Jasper Lawler, chief analyst of online broker LCG. Alphabet titles lost around two percent. In addition, the titles of Apple yielded 3.1 percent. According to stockbrokers, investors feared that Chinese customers would dodge the competition because of the Huawei boycott.

Huawei's US suppliers Qualcomm, Micron Technology and Broadcom were also on the sellers list. The shares of these chip companies let between four percent and six percent springs. The Philadelphia Semiconductor Index dropped four percent.

In addition, T-Mobile and Sprint came into the limelight. The US Competition Authority FCC wants to give the planned merger of the two mobile phones under conditions go-ahead. Sprint titles won about 19 percent. T-Mobile advanced by almost four percent. Later, the Bloomberg agency reported that the Department of Justice was more inclined to reject the planned billet merger.

In Europe, the Huawei dispute burdened the stock markets. Dax and EuroStoxx50 each lost 1.6 percent to 12,041.29 and 3369.78 points, respectively, and almost completely lost their share price gains last week.

On the New York Stock Exchange changed around 810 million shares the owner. 1147 values ​​increased, 2332 gave way and 288 remained unchanged. On the Nasdaq closed with sales of 2.09 billion shares 1097 in the plus, 1983 in the minus and 180 unchanged.

The US credit markets eased. Ten-year government bonds lost 6/32 to 99-21 / 32. The return rose to 2.4139 percent. 30-year-old Bond dropped 6/32 to 100-26 / 32 and returned 2.8338 percent.

More: Investors are pessimistic about the Dax's developments – just like a year ago when the index crashed. Why this does not have to be repeated, read here.

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