(Bloomberg) -- Xiaomi Corp. posted its first quarterly revenue decline on record after Beijing’s strict Covid containment policies and global component shortages crippled smartphone sales.Most Read from BloombergOne of the World’s Frothiest Housing Markets Turned Into a Seller’s Headache OvernightChina in Talks With Russia to Buy Oil for Strategic ReservesElon Musk Gets Defensive Over Twitter Meme as Harassment Report SurfacesApple Shows AR/VR Headset to Board in Sign of Progress on Key Project
(Bloomberg) -- Baidu Inc.’s chip affiliate is looking to raise 2 billion yuan ($317 million) in a new funding round, people familiar with the matter said, as venture capitalists in China shift away from internet businesses and hone in on core technologies like semiconductors, favored by Beijing.Most Read from BloombergOne of the World’s Frothiest Housing Markets Turned Into a Seller’s Headache OvernightChina in Talks With Russia to Buy Oil for Strategic ReservesElon Musk Gets Defensive Over Twit
The stock market began giving back some of Friday's gains on Monday, and in late-morning trading, 11:10 a.m. ET, the tech-heavy Nasdaq is down 1.1%, with semiconductor stock Nvidia (NASDAQ: NVDA) losing twice that -- 2.2%. Is there a reason Nvidia is going down so much more than the rest of the tech market? Investors in general seem upset by the continuing drumbeat of bad economic news -- rising inflation, rising interest rates, slowing growth in China, and a supply chain crisis that just doesn't seem to want to end.