Trade war’s losers could include microchips, energy, banks
NEW YORK (AP) — Investors concerned about the U.S.-China trade war are worrying about more than just those companies that do lots of business with China.
They are also starting to consider the risks to businesses that have few if any ties to that country. The result has been a blow to much of the U.S. stock market.
Among the vulnerable companies are energy providers, banks, microchip makers and industrial manufacturers.
The damage has been widespread since President Donald Trump shocked investors on Aug. 1 by saying he planned to soon extend tariffs across virtually all Chinese imports.
All but 2% of the stocks in the S&P 500 fell on Aug. 5, after China let its currency devalue to its lowest level in a decade.