China’s Widening iPhone Curbs Rattle US Tech Stocks

Beijing’s widening curbs on iPhone use by government staff raised concerns among U.S. lawmakers on Thursday. They fanned fears that American tech companies heavily exposed to China could take a hit from rising tensions between the countries. Apple closed down 2.9%, suffering its worst two-day percentage decline since November — after news that Beijing has told employees at some central government agencies in recent weeks to stop using their iPhones at work. The tech sector dropped four points, the biggest drag on the S&P 500 index and the Nasdaq Composite, as investors assessed whether escalating trade tensions between Washington and … Continue reading China’s Widening iPhone Curbs Rattle US Tech Stocks