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U.S. sanctions on Huawei send stocks reeling; yields fall

Credit: Reuters Studio
Published 1 week ago - Duration: 01:26s

U.S. sanctions on Huawei send stocks reeling; yields fall

European stocks fell, government bond yields slipped and the Japanese yen firmed on Thursday after the U.S. government hit Chinese telecoms giant Huawei with severe sanctions, further straining Sino-U.S. trade ties.

David Pollard reports.

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U.S. sanctions on Huawei send stocks reeling; yields fall

Nestle hit a sweet spot with a record high on Europe's markets on Thursday but amid an otherwise sour taste left by Donald Trump.

Shares across the board retreated after his administration blacklisted Chinese telco Huawei and others, adding heat to trade tensions with Beijing.

Wednesday saw stocks swing higher after Trump delayed the imposition of tariffs on imported cars.

Only for European automakers and their suppliers to retreat again in early trading.

The bulls had M&A to feed on: Nestle's boost came after it entered talks to sell its skin health business in a deal worth around 10 billion dollars.

ThyssenKrupp was rallying around 6% on a Reuters report that Kone of Finland is assessing a bid for its 14 billion-euro elevators division.

And benchmarks in China and Hong Kong closed UP between 0.3 and 0.8 percent on bets, it seems, that Chinese authorities might intervene with support measures.

Even as they mull a response to Washington.

(SOUNDBITE) (Mandarin) CHINESE COMMERCE MINISTRY SPOKESMAN GAO FENG, SAYING: "The U.S. increasing tariffs will only bring more difficulties to the trade talks.

We urge the U.S. to cancel this erroneous measure and avoid causing more damage." The other gainers from what was a surprise move by Trump: safe havens.

Japan's yen firmed.

German government bond yields dipped close to their lowest level in three years.

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