The decision issued late Tuesday night by U.S. District Judge Lucy Koh in San Jose, California, caused Qualcomm shares to plunge 11.4 percent on Wednesday. “Qualcomm’s licensing practices have strangled competition” in parts of the chip market for years, harming rivals, smartphone makers, and consumers, Koh wrote in a 233-page decision. Qualcomm said it will immediately ask Koh to put her decision on hold, and also seek a quick appeal to the federal appeals court in California.
Turkey’s defense minister said it was preparing for potential U.S. sanctions over its purchase of Russian S-400 missile defense systems, even while he said there was some improvement in talks with the United States over buying F-35 fighter jets.
Asian stocks were on shaky ground on Wednesday, as earlier relief over Washington’s temporary relaxation of curbs against China’s Huawei Technologies failed to offset deeper worries about trade frictions between the world’s two largest economies.