LONDON - U.S. and European chipmakers fell sharply on Monday amid worries the Huawei Technologies suppliers may suspend shipments to the Chinese firm due to a U.S. crackdown.
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. European chipmaker STMicroelectronics fell 8% to the bottom of Paris’ CAC 40, while Infineon Technologies dropped 4.5% on Frankfurt’s DAX 30. AMS was down 11.5% at 1240 GMT.
Even if companies can continue to sell components without being subject to U.S. restrictions, any disruption to Huawei’s operations will have a knock-on effect on its suppliers, said Liberum analyst Janardan Menon.
All international corporations count with the right to insist, not only American corporations.
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