Global chip stocks from Nvidia to ASML fall on geopolitics, Trump comments
Politics tamfitronics Global chip stocks fell sharply, with ASML, Nvidia and TSMC posting declines amid reports of tighter export restrictions from the U.S. and a ramp-up of geopolitical tensions fueled by comments from former U.S. President Donald Trump.ASML's Netherlands-listed shares were down 11%, while Tokyo Electron shares in Japan closed nearly 7.5% lower. Arm, AMD, Marvell, Qualcomm and Broadcom were down more than 5% as of 11:50 a.m. ET.The moves came after Bloomberg on Wednesday reported that the Biden administration is considering a wide-sweeping rule to clamp down on companies exporting their critical chipmaking equipment to China.Washington's foreign direct product rule, or FDPR, allows the U.S. to put controls on foreign-made products even if they use the smallest amount of American technology. This can affect non-U.S. companies.CNBC has reached out...
