China investigation of Samsung rattles US tech stocksBusiness | 21 Nov 2018 11:16 am
The previously highflying US technology sector has the most to lose from change in sentiment.
Tech stocks extended a decline that led the market lower Monday, with reports from China adding fuel to the day’s selling after officials in Beijing uncovered widespread evidence of anti-competitive behavior by Korean rivals. According to The Wall Street Journal, Beijing investigators implicated Samsung Electronics and Micron Technology, MarketWatch reports.
Market participants believe that China’s investigation may intensify festering issues around trade relations between China and other major counterparts, including the U.S.