Apple shares down after Beijing restricts iPhone use
iPhone maker set for biggest twoday drop since Nov
Tensions between US and China have risen in recent months
US House panel chair blasts China39;s move
Sept 7 Reuters Beijing39;s widening curbs on iPhone use by government staff raised concerns among U.S. lawmakers on Thursday and fanned fears that American tech companies heavily exposed to China could take a hit from rising tensions between the countries.
Apple closed down 2.9 on Thursday and suffered its worst twoday percentage decline since November after news that Beijing has told employees at some central government agencies in recent weeks to stop using their Apple phones at work.
Several Wall Street analysts said the curbs show that even a company with a good relationship with the Chinese government and a large presence in the world39;s secondbiggest economy was not immune to rising tensions between the two nations.
SinoU.S. friction has worsened in recent years as Washington tries to restrict China39;s access to key technologies including cuttingedge chip technology, and Beijing looks to reduce its reliance on American tech.
China39;s Huawei last week launched its new Mate 60 Pro smartphone, which is powered by an advanced chip made by Chinese contract chipmaker SMIC and marks an apparent breakthrough for the duo hit by U.S. sanctions.
The U.S. Commerce Department said late Thursday it39;s working to obtain more information on the character and…