MarketWatch First Take: Huawei arrest creates concerns in Silicon Valley as well as abroad [MarketWatch]
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Source: MarketWatch
Opinion: Huawei arrest creates concerns in Silicon Valley as well as abroad The arrest of Huawei Technologies Co.’s chief financial officer is sure to put a crimp in the Trump administration’s trade truce with China, as that highly sensitive issue gets more so, but investors are nervous about the impact the whole saga will have on Silicon Valley and abroad. On Thursday, shares of many chip and fiber-optic companies fell, helping fuel a market downdraft that reversed at the end of the session . Investors fear — with good reason — that the arrest in Canada of Meng Wanzhou, the CFO and the daughter of the founder of one of China’s largest tech giants , on a request for extradition from the United States, will derail the trade truce that presidents Donald Trump and Xi Jingping had agreed to in Buenos Aires. On Wednesday, a former Commerce Department official told Axios that China could retaliate and hold U.S tech executives hostage. He advised U.S. tech executives not to travel to China t
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