What's moving markets today: Live updates - CNN

Google (GOOG) is cutting back on its business with Huawei following an order from the Trump administration barring American companies from selling to the Chinese tech firm without a US government license.

Huawei relies on Google's Android operating system for its devices, as well as the Google Play app store.

We are complying with the order and reviewing the implications," a Google spokesperson said Monday.

The restrictions deal a huge blow to Huawei's ambitions to overtake Samsung (SSNLF) as the world's biggest smartphone maker. Huawei phones are much less attractive outside China without Google services, according to analysts.

The news is likely to feed investor unease about the US-China trade war as negotiations between Washington and Beijing appear to stall.

Traders will continue to keep a close eye on the yuan, which was little changed Monday. 

The currency's steep slide against the dollar in recent weeks could complicate talks further.

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https://www.cnn.com/business/live-news/stock-market-news-today-052019/index.html

2019-05-20 10:39:00Z
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