Huawei sanctions send world stocks into tailspin
The latest US sanctions on Huawei undermine market sentiment but China stocks gain on hopes of government support
London — European stocks fell, US government bond yields slipped and the yen firmed on Thursday after the US government hit Chinese telecoms giant Huawei with severe sanctions, further straining China-US trade ties. An index of European shares fell as much as 0.5% in early European trading with the German stock index down 0.4%. US stock futures were down 0.4%, pointing to a weak start on Wall Street. The broad weakness in European markets was somewhat offset by small gains in Chinese and Hong Kong stock indices leading to only marginal losses on a global stock index as investors expected state authorities to step in to support the market and stabilise sentiment.
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