So the war between the United States and Huawei affected the rest of the technology companies

science and technology

Technology companies have seen a drop in Wall Street shares, extending market losses to another week. The US decision to ban technology sales to Huawei of China has affected technology, especially chip manufacturers and processors.

According to TOI, about one-third of Huawei's suppliers are American chip makers, while investors are concerned that action against Huawei may hinder sales to China's high-yielding companies.

Broadcom and Qualcomm are both Huawei suppliers, with at least half of their revenue coming from China, and its shares, along with most other key chip makers, have fallen.

Huawei's ban also adds more concern to the market over further escalation in the US-China trade war, with both sides raising additional tariffs on their respective goods.

With uncertainties weakening investor confidence, Apple shares fell 3.5% on Monday, the biggest indicator of the Dow Jones Industrial Average, and Alpha Inc., the parent company of Google, fell 2.1% after indicating that it would have to cut Some features on Huawei smart phones.

Other technology companies also declined, with Facebook dropping 1.5%, Comcast down 1.9%, and consumer-focused stocks falling.

The Chinese government says Chinese suppliers, including Huawei and its smaller competitor, ZTE Corp., pose a threat of espionage because they belong to the ruling Communist Party of China. Qualcomm, which receives about 65% of its revenue from China, fell 5.6%. Broadcom, which accounts for almost half its revenue from China, fell 4.1 percent. Intel fell 2.6% and Xilinx fell 2.8%.

Tesla fell 3.1% after a WedBush analyst said there seemed to be mixed signals on demand for the electric car maker model, which could make it difficult for the company to make profits in the next two quarters and beyond. Daniel Ives kept his "neutral" rating on the stock , But cut the target price to $ 230 from $ 275.

Tesla shares have fallen 50 per cent since September, with concerns about demand for its model 3 in the United States.

The company lost $ 702.1 million in the first quarter, one of its worst seasons in two years, with sales down 31%.

Elon Musk, chief executive of another loss company, expected the second quarter, but said Tesla would be profitable again by the third quarter.

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