Chip Stocks Plummet on Trade Fears and Taiwan Comments
Chip stocks experienced a significant decline, losing $480 billion in value due to concerns over China trade tensions and recent comments made by former President Trump regarding Taiwan. The US is considering tightening export restrictions on advanced semiconductor technology to China, which has contributed to the decline in chip stocks.
Major companies such as ASML Holding, Nvidia, AMD, Qualcomm, Micron, Broadcom, and Arm saw their stocks drop by 5-11%. However, some US manufacturers like Intel, GlobalFoundries, and Texas Instruments benefited from the situation.
The world's largest contract chipmaker, TSMC, also experienced a 6% fall in stock price due to Trump's Taiwan defense comments. Overall, the chip industry is facing increased uncertainty and potential restrictions that could impact global markets.
Investors are closely monitoring the situation and its potential impact on the stock market and semiconductor sector.
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