US stocks declined at the end of Monday’s trading amidst growing risks of doing business with China’s Huawei, putting further pressure on the technology sector in Wall Street to fall by 1.8 percent.
The drop came after Google, Intel and qualcomm suspended dealing with Huawei after the President Donald Trump’s executive order that banned makers of US hardware and software from selling to Huawei by requiring a special license from Washington.
Dow Jones dropped 0.3 percent, or 84.10 points to 25,679.9, while Standards and Poor’s 500 declined 0.6 percent to end the day at 2,840.2 points and the Nasdaq shed 1.5 percent to register 7,702.3 points. Apple lost over three percent. Trade tension is rising between the US and China, with Google ceasing commercial trading with the Chinese company.