China's foreign ministry said on Saturday the United States needed to stop the "unreasonable suppression" of Chinese companies like Huawei, and a Chinese newspaper said the government was ready to retaliate against Washington. The Trump administration on Friday moved to block global chip supplies to blacklisted telecoms equipment company Huawei Technologies [HWT.UL], spurring fears of Chinese retaliation and hammering shares of U.S. producers of chipmaking equipment. China will firmly defend its companies' legal rights, the foreign ministry said in a statement in response to Reuters' questions on whether Beijing would take retaliatory measures against the United States....
Investors are bracing for more turbulence in U.S. stocks, as some states prepare to reopen their economies and global trade tensions rise. The Cboe Volatility Index, known as Wall Street's fear gauge, posted its biggest weekly gain in about two months, reflecting the S&P 500 index's 2.6% slide from its April 29 high. VIX futures have jumped as well, with investors pricing elevated risk into June contracts....
