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Commenting on the US Commerce Department’s decision to add 38 Huawei affiliates to the US economic blacklist, “Huawei has continuously tried to evade US restrictions announced in May on chips,” US Secretary of State Mike Pompeo said on Monday.

“The United States will continue to restrict most US exports to Huawei and its affiliates,” Pompeo added and reiterated that they urge their allies and partners to join them.

Market reaction

These comments were largely ignored by market participants and the S&P 500 futures were last seen gaining 0.35% on a daily basis.