Wall Street slides as Huawei fallout hits tech shares
Updated : May 21, 2019 06:24 AM IST
Alphabet Inc's Google has moved to stop providing Huawei with access to its proprietary apps and services, Reuters reported on Sunday. Mobile phone parts producer Lumentum Holdings Inc also announced that it has discontinued shipments to Huawei.
Other chipmakers, including Intel Corp, Qualcomm Inc, Xilinx Inc, and Broadcom Inc, will not supply the Chinese company until further notice, according to a Bloomberg report.
The Dow Jones Industrial Average fell 84.1 points, or 0.33 percent, to 25,679.9, the S&P 500 lost 19.3 points, or 0.67 percent, to 2,840.23, and the Nasdaq Composite dropped 113.91 points, or 1.46 percent, to 7,702.38.
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