US ramps up pressure on Chinese firms

The US is set to further tighten restrictions on Huawei as President Donald Trump says the White House is looking at potential action against Alibaba and other Chinese commercial giants. Plus, Japan has seen a huge economic contraction due to the Covid-19 pandemic. The markets remained subdued as traders weighed the prospects of tighter quarantine measures against continued government support. Meanwhile, two major US college football conferences have postponed their seasons. College football is a huge business in the United States, pulling in billions in revenue.

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