Chips Are Down: Huawei U.S. Blacklisting Knocks EU Semiconductor Stocks

www.oann.com | 6/3/2018 | Staff
emilia (Posted by) Level 3
LONDON (Reuters) – European chipmakers Infineon Technologies, AMS and STMicroelectronics fell sharply on Monday amid worries the Huawei Technologies suppliers may suspend shipments to the Chinese firm due to a U.S. crackdown.

STMicro was down 4% at the bottom of Paris’ CAC 40, while Infineon fell 3.4% to the bottom of Frankfurt’s DAX 30 and AMS was down 4.6% at 0836 GMT.

Selling - Nikkei - Asian - Review - Infineon

The selling came after Nikkei Asian Review reported that Infineon had halted shipments to Huawei after Washington added the world’s No. 2 smartphone maker to a trade blacklist last week, imposing restrictions that will make it difficult to do business with U.S. companies.

The report also said STMicro was set to have meetings this week to discuss whether to continue shipping to Huawei.

Germany - Infineon - France - STMicro - Europe

Germany’s Infineon and France’s STMicro, Europe’s biggest chipmakers, had no immediate comment.

Even if companies can continue to sell components without being subject to U.S. restrictions, any disruption...
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