Published: Tue, June 26, 2018
Money | By Ralph Mccoy

United States to curb Chinese investment in tech firms

United States to curb Chinese investment in tech firms

The widespread downturn left few safe places for investors to hide. "Chinese business investments have created many jobs and tax revenue in the United States. they also provided funds and markets so US businesses can expand overseas". Amazon shares fell more than 3.5%, while shares of Google and Facebook fell 3.67% and 3.77%, respectively.

The slated curbs will pour more oil onto Donald Trump's trade conflict with the world's second-largest economy, with heightened tensions threatening to roil financial markets and dent global growth.

By mid-afternoon, the S&P 500 was down 1.83%, and the Nasdaq had fallen 2.33%.

As Lim explained, US businesses will be hurt as a result of the escalating trade war.

Later this week, the US Treasury Department is expected to release fresh rules on Chinese investment in technology companies, Bloomberg reported on Monday, putting additional pressure on China - which hit back against the plans.

After months of increasingly ribald rhetoric and threats, the trade fight seems to be coming to a head, with Europe imposing tariffs on $3.3bn of American products on Friday in response to U.S. barriers on imports of aluminium and steel. First, President Trump tweeted that "all countries" would have to remove trade barriers or tariffs on imports or face retaliation from the U.S.

Today the trade war gets serious and Trump fans have to know that their beloved leader has brought this on.

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Auto manufacturer Daimler AG has warned that tariffs will lower its profits, illustrating the financial impact of the simmering conflict.

Late last month, Trump infuriated USA allies - from the European Union to Canada and Mexico - by imposing tariffs of 25 percent on imported steel and 10 percent on aluminum.

"Our base case remains that cooler heads will prevail and that a more adverse trade war will ultimately be averted", the Deutsche Bank economists said in their note. Caterpillar stock lost 3.7 percent and Boeing fell 7.7 percent on Monday.

But it has been worse in China as this chart of the SSE Index of the Shanghai stock market shows.

The Dow, a narrow gauge of 30 US stocks, has declined in nine of the past 10 trading days - a remarkably long losing streak that adds up to a 4.6 per cent decline.

The so-called FANG stocks, which have led momentum in USA stocks, were lower after having hit record intraday highs last week.

Treasury yields also slipped following the report, with the 10-year down 2.3 basis points to 2.877%.

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