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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
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.