Squawk Box Europe Express

Intel shares nosedive in after-hours trading as the U.S. chip maker issues disappointing Q3 guidance and postpones the launch of its next generation product. The S&P 500 breaks a four-day winning streak as big tech stocks sell off. Apple shares weigh particularly heavily as the Iphone maker faces an investigation into potential breaches of consumer protection laws. In Washington, the virus stimulus bill has been delayed until next week. Wrangling over unemployment insurance and direct cash payments have forced the stalemate between the Senate and the White House. Chinese assets are in the red as Beijing retaliates against the U.S. closure of its Houston mission by shutting down its counterpart in Chengdu. U.S. Secretary of State Mike Pompeo has slammed the Chinese Communist Party over alleged spying. He said the West’s tolerance of Chinese interference had created ‘a Frankenstein’.