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European stocks close lower as tech slides on Huawei fallout


Monday, 20 May 2019 23:25 WIB

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European markets closed lower Monday as a U.S. crackdown on Chinese telecommunications giant Huawei weighed on the technology sector.

The pan-European Stoxx 600 closed down around 1.2% to 377.46, with technology stocks leading the losses with an almost 3% drop on the fallout from heightened American scrutiny of Huawei.

President Donald Trump's administration last week added Huawei to a trade blacklist that blocks it from buying U.S. technology without special approval. Meanwhile, a host of U.S. tech giants from Google to Intel are reported to have distanced themselves from the firm.

Source : CNBC


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