Stocks- Nasdaq Futures Slump as tech companies boycott Huawei By Investing.com



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© Reuters.

Investing.com – US futures were down on Monday after Google (NASDAQ 🙂 and other tech companies stopped selling to China's Huawei telecommunications giant because of a decision by last week that banned the company from US markets and forced all US companies to require licenses to deal with it.

Google suspended Android software licenses for Huawei smartphones, while Qualcomm (NASDAQ 🙂 and other semiconductor companies halted hardware shipments, which had a knock-on effect in the sector.

Tech-heavy lost 76 points or 1% at 6:40 am ET (10:40 GMT), but lost 82 points or 0.3% and lost 12 points or 0.4%.

Apple (NASDAQ 🙂 fell 2%, while chip makers AMD and Micron (NASDAQ 🙂 lost 2.4% and 3% respectively. Intel (NASDAQ 🙂 lost 1.9% and Microsoft (NASDAQ 🙂 lost 0.8%.

Boeing (NYSE 🙂 was down 0.7% after recognizing that the 737 Max 8 simulator had flaws in pilot training. Boeing found that it could not accurately duplicate the conditions that caused two fatal accidents involving the aircraft model.

Tesla (NASDAQ 🙂 continued to fall, down 4.5% after announcing Friday an additional cut in its costs so as not to waste the capital it had raised earlier this month. The report put new questions on Tesla's ability to become financially self-sustaining.

In addition, Qudian Financial Technology Company (NYSE 🙂 grew 6% after strong earnings, while Target (NYSE 🙂 was up 1.3% after its limited collection of vine vines sold less than an hour after launch.

In commodities, the rise was 0.2%, to stand at 63.05 dollars a barrel, while Saudi Arabia and Russia were divided on the need to keep the barrel or not on the market when the current agreement on production restrictions will expire at the end of June. fell 0.05% to $ 1,275.05 troy ounce, while the index, which measures the greenback versus a basket of six major currencies, remained unchanged at 97.817.

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