A woman rides a bicycle past a globe structure on display outside a bank in Beijing, Monday, May 6, 2019. U.S. President Donald Trump raised pressure on China on Sunday, threatening to hike tariffs on $200 billion worth of Chinese goods in a tweet that sent financial markets swooning. Trump's comments, delivered on Twitter, came as a Chinese delegation was scheduled to resume talks in Washington on Wednesday aimed at resolving a trade war that has shaken investors and cast gloom over the world economy. (AP Photo/Andy Wong)

Trade talks with China sour and US cos with exposure get hit

May 06, 2019 - 5:24 am

NEW YORK (AP) — U.S. companies that do a lot of business in China are getting hit hard in early trading after President Donald Trump threatened more tariffs with trade talks between the world's two biggest economies faltering.

Apple, Qualcomm and Broadcom, who rely heavily on Chinese business, fell close to 3% before the opening bell Monday. According to data provider FactSet, 64.7% of Qualcomm's revenue comes from China. Broadcom's Chinese revenue is 48% of its total and Apple gets nearly one-fifth of its revenue from world's second largest economy.

Wynn Resorts, with a host of casinos and hotels in Macau, gets about 75% of its revenue from China, according to FactSet. Wynn shares have tumbled nearly 5% in premarket trading.