Signs have emerged that the Chinese economic recovery is losing momentum coming out of the pandemic, and if the negative trend continues, these U.S. companies with high revenue exposure to the region could get hurt. Goldman Sachs analyzed company 10-K filings to determine the geographic revenue exposure of each stock in the S & P 500. They found a number of stocks with revenue exposure to Greater China of over 40%.
Semiconductors have been caught up in the U.S.-China battle for tech dominance. Washington has tried to cut China and Chinese firms off through sanctions and export restrictions in the past few years, including blacklisting Huawei. The U.S. also introduced broader chip restrictions last year, aiming to deprive Chinese firms of critical semiconductors that could serve artificial intelligence and more advanced applications.
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Stock market today: Global stocks trade mixed amid worries about China, US economiesGlobal shares were trading mixed Wednesday as Japan’s benchmark jumped on the news of solid economic growth data, while the rest of Asia was mired in uncertainty.
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