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DeepNewz, mobile.
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US chip stocks experienced a significant decline on July 17, 2024, following reports that Washington is considering tighter export restrictions on semiconductor technology. The semiconductor sector saw its worst selloff since March 2020, plunging 6.8%, with companies like Nvidia (NVDA), AMD, and Broadcom (AVGO) closing sharply lower. The Nasdaq 100 also plunged 2.9%, marking its biggest drop since December. The market reaction was further influenced by comments from former President Donald Trump, who expressed a lukewarm stance on defending Taiwan and suggested that Taiwan should pay the US for its defense. These developments have heightened trade tensions and impacted investor sentiment in the semiconductor industry.
Global chip stocks fell sharply after reports of tighter export restrictions from the US and comments from Trump, who said Taiwan should pay the US for defense (@arjunkharpal / CNBC) https://t.co/pC1BP1QA0K 📫 Subscribe: https://t.co/OyWeKSRpIM https://t.co/DVqfQDnqDD
WATCH: US chip stocks fell after a report that Washington is mulling tighter curbs on semiconductor exports and after Republican nominee Donald Trump sounded lukewarm about defending Taiwan https://t.co/D7l55DegFd https://t.co/hCrt3gMZop
Big moves in semis today with $NVDA, $AMD, and $AVGO all closing sharply lower. The moves come after news reports that President Biden is considering harsher trade restrictions with China along with former President Trump's comments on Taiwan. @Srasgon joins with his thoughts. https://t.co/3zdkzqFtov
