China Sanctions U.S. Defense Companies Over Taiwan Gun Sales

China has placed leading U.S. defense contractors Lockheed Martin Corp. (NYSE: LMT) and Raytheon Technologies Corp. (NYSE: RTX) on its "unreliable entities list" over arms sales to Taiwan, effectively banning the duo from exporting or importing to China.  China has also banned the companies from making any further investments in China; imposed fines that are double the contracted amounts of their arms sales to Taiwan, canceled residence permits for any staff in China and also barred senior management from entering the country. The bans come…