US Stocks Extend Losses On China Smartphone News US equity markets were already in puke mode, but headlines from Nikkei that "China's leading smartphone makers have told suppliers to scale back orders for the coming quarters by around 20% following COVID lockdowns that have severely disrupted supply chains"… EXCLUSIVE | CHINA'S BIG THREE SMARTPHONES SLOWDOWN China's leading smartphone makers have told suppliers to scale back orders for the coming quarters by around 20% following COVID lockdowns that have severely disrupted supply chainshttps://t.co/EAevLJQs7q — Nikkei Asia (@NikkeiAsia) May 18, 2022 …sent futures into freefall, led by a 3.5% plunge in Nasdaq……