China Accelerates Substitution

its chance, of the story’s futures

−0.4%on the S&P 500, if it happens

The disclosures convince Beijing that dependence on illicit or gray-market Nvidia supply is strategically unsafe. China responds by redirecting more orders and subsidies to Huawei Ascend, SMIC, Cambricon, and domestic model-efficiency programs.

What it moves

Technology−0.6%

Sectors in percent; other series by direction only.

Each figure is the modeled move of the S&P 500 if the outcome occurs. For information only. Not investment advice.

China Accelerates Substitution

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