03-02-2020, 07:50 AM
Quote:It is only a matter of time before havoc in China starts to show up in US profit warnings. Refinitiv says 30pc of semiconductor earnings within the S&P 500 come from China, 14.3pc of technology equipment, 13.9pc of consumer services, 11pc of household products, and 5.6pc of cars and components. The exposure of the German car industry is enormous in relative terms. Roughly a quarter of its sales come from China, amounting to 5.2m vehicles or €600m each working day, according to Germany’s Centre for Automotive Research.Chinese financial shock gathers steam as world holds its breath on coronavirus