A US bid to block China's Huawei Technologies from buying vital American technology threw into question prospects for sales at some of the largest tech companies and drew a sharp rebuke from Beijing, which said the move could hurt trade talks.
Meng faces extradition to the United States on charges that she conspired to defraud global banks about Huawei's relationship with a company operating in Iran. She and the company deny the charges. Leading analysts downgraded their assessments for several microchip companies following the move against Huawei.
Shares of Xilinx were down 5.7 per cent in mid-afternoon on Thursday, while those of rival chipmaker Qualcomm fell 3.9 per cent.Walmart said prices for shoppers would rise because of higher tariffs on Chinese goods even as the world's largest retailer reported on Thursday its best comparable sales growth for the first quarter in nine years.
President Donald Trump, who has embraced protectionism and accused China of engaging in unfair trade practices, has threatened to put 25 per cent tariffs on a further US$300 billion worth of Chinese goods.
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