Stocks rebound after US eases off China sales restrictions

Stocks rebound after US eases off China sales restrictions

5 years ago
Anonymous $9jpehmcKty

https://apnews.com/0716fb25c23f460193d5916ff39d804d

NEW YORK (AP) — U.S. stocks rallied in morning trading on Wall Street Tuesday after the U.S. government temporarily eased off its proposed restrictions on technology sales to Chinese companies.

Technology stocks climbed out of the ditch created Monday by the planned restrictions, aimed primarily at Chinese telecom gear maker Huawei. About one-third of that company's suppliers are American chipmakers and the move would crimp sales for companies including Qualcomm and Broadcom. Both companies posted early gains, along with other chipmakers.