Reported 3 months ago
Nvidia, ASML, and TSMC stocks experienced a significant drop due to various reasons, including concerns over export restrictions and a broader tech stock rotation. One contributing factor was the potential for stricter controls on semiconductor technology exports to China, impacting companies like Nvidia. ASML saw the sharpest decline, falling over 12% following its third quarter guidance, which fell below analyst expectations. Former President Trump's comments regarding Taiwan also led to a decline in TSMC shares. Meanwhile, other semiconductor companies like Intel and GlobalFoundries surged as the Biden administration emphasizes onshoring chip production to the US.
Source: YAHOO