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China Retaliation Is ‘11’ on Scale of 1 to 10, Wall Street Warns
Analysts continued to warn about the dangers of an escalating trade war on Monday, as China moved to strike back at the U.S., hitting U.S. stocks and Treasury yields.
Semiconductors, with direct exposure to trade, and banks stocks, which are sensitive to interest rates, were among the decliners.
- Felice Maranz
- Bloomberg
The biggest U.S. banks, including JPMorgan Chase & Co., Bank of America Corp. and Citigroup Inc., shed more than 2% in early trading.
Micron Technology Inc. fell 5.6% while Texas Instruments Inc. lost 3.3% and Intel Corp. was down 3.4%. Apple Inc. dropped 4.3%, the most since…