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Trump's commercial spin-offs
US companies begin to feel the effects of President Donald Trump's trade war efforts, Mid-Continent Nail laying off workers and Harley-Davidson announcing plans to relocate some manufacturing industries to sell hogs to Europeans at prices reasonable. As stock markets jostled, Treasury Secretary Steven Mnuchin tried to deny that the US would take action against the use and investment of Chinese companies in US technologies, saying that the White House would apply such measures to all countries. Technology." Fortune
Tech Hit
Technology companies have been particularly affected by the aforementioned stock market turbulence. Netflix fell 6.5%, its worst day since mid-2016. That said, its stock has doubled again so far this year. Square also dropped by 6%, Twitter by 5% and Stitch Fix by 10%. Chipmaker Micron lost nearly 7% of its value, and AMD and Nvidia dropped more than 4%. CNBC
Bear market in China
Meanwhile, Shanghai's benchmark stock index is now in official territory. The Shanghai Composite Index fell 0.5% today, down 20% from its peak in January. By the way, this loss is greater than the entire Canadian economy. If it loses another 6%, the biggest Asian stock market will be in Japan. Once again, Internet companies have been particularly affected, as have telecoms. Tariffs are not the only concern – investors are also concerned about the real estate bubble and the risks associated with debt. South China Morning Post
GE Healthcare Sector
General Electric's self-dismemberment continues, this time with a plan to divest its health care business and its stake in oil services company Baker Hughes. According to the Wall Street newspaper, it's the "conclusion" of the great strategic review of CEO John Flannery, and it will be presented to investors today. WSJ
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