The July survey of global fund managers by Bank of America found that geopolitics has become the key risk for markets, a view confirmed at least initially by the overnight sell-off of semiconductor stocks.
Chip shares tumbled amid reports the Biden administration is considering further restricting the export of these key tech components to China and comments from Donald Trump that he thinks Taiwan has taken control of the semiconductor market at the expense of the US.
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Timothy Moore writes on equities, commodities and monetary policy. He writes Before the Bell and contributes to the Markets Live blog. Connect with Timothy on Twitter. Email Timothy at timothy.moore@afr.com
