Wall Street Breakfast: Huawei Ban Bites Hard

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It's a rough start to the week for chipmakers as key semiconductor manufacturers cut off supplies to Huawei after the Trump administration added the Chinese company to a trade blacklist last week. Premarket movement: Qualcomm (NASDAQ:QCOM) -3.1%, Intel (NASDAQ:INTC) -1.8%; Xilinx (NASDAQ:XLNX) -2.7%, STMicroelectronics (NYSE:STM) -7.4%, Micron (NASDAQ:MU) -3.7%. Google started the trade suspensions over the weekend, leaving Huawei with access only to the open-source version of Android. Nokia (NYSE:NOK), which usually benefits from the Chinese firm's woes, is up 4.1% premarket, while Ericsson (NASDAQ:ERIC) shares are 1.6% higher.

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https://seekingalpha.com/article/4265207-wall-street-breakfast-huawei-ban-bites-hard?source=feed_all_articles

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