Europe
US Chip Stocks Fall Amid Trump Administration’s Chip-Curb Fears
US chip stocks fell due to reports of the Trump administration increasing restrictions on the sector to prevent China from winning the AI arms race.
• Nvidia shares fell 0.5%, Advanced Micro Devices stock slipped 0.1%, Broadcom shares dropped 0.3%, and Intel stock tumbled 1.5%.
• Qualcomm shares saw a 1% gain.
• The Trump administration is preparing for tougher restrictions and pressuring allies to increase their own.
• The Trump administration has met with Japanese and Dutch officials to discuss limiting Tokyo Electron and ASML engineers from maintaining chip-manufacturing tools in China.
