Wall Street drops on rising U.S.-China tensions over Taiwan

Published by
Reuters

By Aniruddha Ghosh and Devik Jain (Reuters) -Wall Street’s major indexes fell in choppy trading on Tuesday on rising U.S.-China tensions as House of Representatives Speaker Nancy Pelosi’s support to a democratic Taiwan prompted China to announce “targeted military operations”. The latest geopolitical uncertainty comes at a time when financial markets are struggling to grapple with the fallout of the Ukraine war, an energy crisis in Europe, soaring inflation and tightening financial conditions. Shares of chipmakers with a large exposure to China struggled to gain, while industrial bellwether Ca…

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