President Donald Trump could issue an executive order that would prohibit U.S. companies from buying telecoms equipment made by companies such as Huawei Technologies and ZTE Corp, according to a Reuters report, a move that could add further pressure to U.S.-China trade relations.

Amazon and Apple have denied claims that a secret microchip was found embedded in severs linked to Elemental Technologies, a video compressing service purchased by Amazon in 2015, amid concerns that government hackers in China were able to infiltrate U.S. corporate data.

U.S. tech stocks could be the among the most vulnerable to downside risk if President Donald Trump goes ahead with his threat to impose tariffs on $200 billion worth of China-made goods and officials in Beijing strike back with targeted disruptions to the sector's supply chain.

Tech stocks were once again on the back foot in pre-market trading Wednesday as U.S. lawmakers push for tighter controls on sector investments and investors fear President Donald Trump is putting the FAANGs on the front lines of his global trade battle.

“As the Covid pandemic continues to evolve and be highly unpredictable, we must remain vigilant in protecting those who are at greatest risk of getting very sick from Covid," said CEO Albert Bourla.

"WBA delivered strong execution across operating segments and against very robust growth last year," said CEO Rosalind Brewer.

Micron is set to report earnings on Thursday after the close, but the stock sits on critical support. Will it hold or will it fold?