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Need to Know: Trump’s Broadcom block is just a ‘prelude’ to more China takedowns

Today’s bellwether election in Pennsylvania already was riling up politicos.

Then President Trump nixed the biggest tech deal ever and revealed Rex Tillerson is out as secretary of state.

The deal news is stirring up folks not just in Washington, but also on Wall Street, in Silicon Valley and over in Beijing and Shenzhen.

The president has blocked Singapore-based chip giant Broadcom’s AVGO, +2.57% $117 billion hostile bid for American peer Qualcomm QCOM, -4.06% . The move comes after CFIUS — the Committee on Foreign Investment in the U.S. — said the takeover could deliver a boost to a Chinese telecom giant, Huawei, that some see as a possible spy threat.

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