Silicon Valley suppliers fall after U.S. companies are banned from selling to Chinese smartphone giant ZTE

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Shares of several Silicon Valley telecommunications components suppliers dropped sharply on Monday after the U.S. Department of Commerce said it would ban American companies from doing business with Chinese smartphone maker ZTE Corp. for seven years. The ban is intended to punish ZTE, which gets an estimated 25 percent to 35 percent of its components from U.S. manufacturers, for violating the terms of a sanctions agreement. "The ban on supplying ZTE comes two months after two Republican senators...

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