Palo Alto, Fortinet down after reports China orders halt on US, Israeli cybersecurity softwares
Shares of Palo Alto Networks PANW.O down 2.8% at $185.52 premarket, Fortinet FTNT.O down 2.8% at $76.15
Reuters reports that Beijing orders Chinese firms to stop using cybersecurity software made by about a dozen U.S., Israeli firms over national security concerns
Broadcom-owned VMware AVGO.O and Check Point Software CHKP.O also among affected vendors
Authorities express concerns that foreign software could collect and transmit sensitive data abroad
China's internet regulator, the Cyberspace Administration of China, and the Ministry of Industry and Information Technology hasn't responded to Reuters requests for comment
The four companies also didn't reply to Reuters queries
Notice issued in recent days as China accelerates push to replace Western tech with domestic alternatives amidst heightened trade and diplomatic tensions with the U.S.
PANW up 13.7% and FTNT down 16.5% over the past year
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