Shares in some of Huawei’s biggest American suppliers fell on Thursday after the Trump administration ratcheted up attacks on the Chinese tech group.
The White House and US Department of Commerce took steps on Wednesday night that would in effect ban Huawei from selling technology into the American market, and could also prevent it from buying semiconductors from suppliers including Qualcomm in the US that are crucial for its production.
US chipmaker Qualcomm, which earns around 5 per cent of its revenues from Huawei, saw its share price drop almost 4 per cent to $83.08 by lunchtime in New York on Thursday despite a broadly positive market. Shares in Broadcom, another supplier, fell 2.5 per cent.
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