DealBook Briefing: Technical and commercial problems continue to weigh on markets

The decision, made after US chip maker Micron accused Jinhua of intellectual property theft, could be a blow to Chinese society. (And he made comparisons with the Trump administration's harsh actions against ZTE earlier this year.) The sanctions will delay China's efforts to create an internally developed chip industry that does not rely on American components.

More: US tech companies exceed their Chinese rivals on R. & D. five for one.

Markets still hiss on technology and commerce

Behind this volatility hid the persistent concerns of investors about the overvaluation of technology stocks. Amazon, for example, fell 6.3% yesterday, while Netflix lost 5%, and shares of both countries fell more than 20% this month. Technology-rich Nasdaq was down 1.6% on Monday and down 13% from August's peak.

Trade fears also weighed on stocks, after a report that President Trump could impose tariffs on all remaining imports from China, raising fears of rising costs for US businesses and consumers.

US markets, however, look more resilient this morning, as the futures of the major indexes are up.

To come up

Apple announces new products. The iPhone maker is expected to unveil today new iPads, laptops and perhaps a desktop computer.

Wall Street will monitor Facebook's third quarter financial results. Investors will look for a drop in the number of users and sales of ads after a series of scandals that have affected the social network.

The US reports on economic growth. Official figures should show slower growth in the euro area. But European Central Bank President Mario Draghi said last week that if the economy of the region develops more slowly, it will not sink into recession.

Uber is fighting to keep drivers as entrepreneurs in Britain. The appeal society goes to the Court of Appeal for a case concerning workers' rights. Uber drivers fight to be recognized as workers, in order to qualify for minimum wage and vacation pay.

Hate is still flourishing on social media

Following the shooting at the Pittsburgh Synagogue, social media is under scrutiny. Until now, his progress is considered insufficient.

More from Sheera Frenkel, Mike Isaac and Kate Conger:

Over the last 10 years, Silicon Valley's social media companies have expanded their reach and influence around the world. But it has become clear that companies have never fully understood the negative consequences of this influence, nor how to fix it – and that they can not put genius back into the bottle.

The largest platforms, such as Facebook, Google and Twitter, claim to be working in search of obnoxious content, with the help of moderators and software. (Some employees fear that this is still not enough.) But Gab, a friendly messaging service used by Bowers, has a different message: "We are the most controversial, most defamed and without platform. means that we are a threat to the media and to the oligarchy of Silicon Valley. "

Britain will impose a new tax on Big Tech

Chancellor of the Exchequer, Philip Hammond, announced this initiative as part of the country's annual budget. The new fee, which is expected to come into force in 2020, would only apply to organizations with a worldwide turnover of at least 500 million pounds, about $ 640 million. The government will require 2% of revenue generated by UK companies. Mr Hammond said the plan could eventually yield up to £ 400 million a year.

But the technology sector is not impressed. The Council for Information Technology Industries, which represents Google and Facebook, said "imposing a digital tax could have a chilling effect on investment in the UK and prevent companies of all sizes from create jobs".

The departure of Merkel leaves the future of Europe more cloudy

Analysts say Merkel's retirement could usher in a new era, not only for the biggest country in Europe, but for the continent itself.

This could leave Germany more unstable and less able to take the lead in Europe at a time when it is absolutely necessary to show leadership on a large number of topics – the imminent departure of Britain from the Union the controversial budget plans of Italy.

Stefan Koopman, an economist at Rabobank, presented a gloomy assessment to the NYT: "There could be no worse time for Germany's stable ship to navigate rough waters."

Elon Musk tests the S.E.C on Twitter, again

Kristen O'Hara was appointed commercial director of Snap, but Evan Spiegel, general manager of the company, changed his mind two days later. She has now left the company.

J.C. Penney hired Michael Fung acting C.F.O.

The Frontlight Capital hedge fund closes in less than three years.

The speed read

Offers

• Ginni Rometty bet his legacy as IBM's leader on the company's largest acquisition, the $ 34 billion acquisition of Red Hat. Analysts believe that Workday and Okta could be the next cloud computing software vendors.

• Berkshire Hathaway has invested $ 600 million in financial technology companies Paytm and StoneCo. (WSJ)

• The German media company ProSiebenSat.1 has agreed to buy the eHarmony dating site. (Reuters)

• Third Point would like Campbell Soup to explore the possibility of separating. (WSJ)

• The Head of Deutsche Bank's Securities Division insists that the company's investment bank is doing well, despite the difficulties of its parent company. (Bloomberg)

Politics and politics

• The approval rating of President Trump's job fell last week after bombing bombs and the Pittsburgh attack. Aides acknowledged that he was struggling to reconcile medium-term campaign and public empathy.

• The Treasury Department expects to issue more than $ 1 trillion in new debt this year, its highest since 2010. (WSJ)

• According to a new survey, last year's fiscal reform did not trigger a US investment boom. (Internal business)

• The Supreme Court may decide that workers can not exercise the status of class actions in arbitration proceedings. (NYT)

Trade

• The US says it will allow its banks to continue to use UK clearing houses to process derivatives trades, even in the case of Brexit without a transaction. (FT)

• Tourists could be the next weapon of the US-China trade war. (WaPo)

Technology

• Most applications used by your kids are filled with ads. (NYT)

• Why Americans do not improve their phones: more expensive handsets and expensive deals. (WSJ)

• Intel says its workforce now reflects the available talent pool: about 27% women, 9.2% Hispanics and just under 5% African Americans. (WSJ)

• Apple is investigating allegations of illegal work by students on its Apple Watch production lines. (Edge)

• Wisconsin's agreement to build a plant by Foxconn went south. (Edge)

• The Chinese company Bytedance has realized a valuation of 75 billion dollars by filling the Internet with fluff. (NYT)

Best of the rest

• New Chinese billionaires are young, fast and take risks. (Breakingviews)

• The renminbi has reached its lowest level in ten years, but the Chinese central bank may not take the measures that are required to save the currency.

• Since 2010, nearly 90 rural hospitals in the United States have closed. (Result)

• "How to debate finance without being an idiot". (Bloomberg opinion)

• The best way to fight climate change could be an honest price for carbon. (NYT Op-Ed)

• Can bourbon age as well as scotch? We are about to know it. (NYT)

Thank you for reading! Well, see you tomorrow.