Tech Stocks Crash on China Trade War Fears
U.S. technology stocks were slammed on Monday after reports that President Donald Trump will crack down on Chinese companies that invest in U.S. technology companies. The move is expected to escalate tensions in the trade war between the U.S. and China.
For the most part, U.S. tech stocks have been doing better than the rest of market for the last year and a half.
Bloomberg reports the White House’s plan is to use legal measures to declare Chinese investment in U.S. technology firms is a threat to economic and national security.