Chip Stocks Rally After Brutal Rout—As Biden Reportedly Eases Planned Semiconductor Trade Rules

the United States will exempt allies like Japan and the Netherlands from expected trade restrictions on advanced semiconductor technology, paring losses in the wake of a bruising tech stock rout the day before as investors question whether big tech’s big bets on AI are paying off.the countries would be among the U.S. allies exempted from the Biden administration’s forthcoming trade restrictions on advanced semiconductor manufacturing equipment.

Shares for semiconductor equipment maker ASML, the Netherlands’ largest company, led the charge, climbing as much as 11% during trading hours in Amsterdam—the company’ssince early 2020—and though gains atrophied as trading continued, they were still up more than 5% in Amsterdam at the time of writing, with the firm’s Nasdaq listed shares up 7% in premarket trading.

Shares for Japan’s Tokyo Electron and South Korea’s SK Hynix also surged on the news, closing 7.4% and 3% higher, respectively, at the end of trading in Tokyo and Seoul. U.S. chip firms also rallied on the news, with industry titans Nvidia and AMD leading the way, respectively gaining around 7% and 9% during premarket trading, with the former paring some of its losses from the day before when sharesOther U.S. chip firms including Broadcom, KLA Corp, Intel, Qualcomm, Lam Research, Applied Materials and Marvell rallied as well and rose between 2% and 5% in premarket trading to mitigate losses from Tuesday, when all closed at least 2% down at market close.

The chip stock rally comes after a dismal day for big tech stocks as investors offload shares before earnings reports, with key indexes like Nasdaq Composite and S&P 500Semiconductors underpin the entire tech sector and, by extension, much of the modern world. The precisely etched silicon wafers drive everything from smartphones and cars to computers and blenders to satellites, fighter jets and weapons.

Belgique Dernières Nouvelles, Belgique Actualités

Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.

Chip Stocks Rally After Brutal Rout—As Biden Reportedly Eases Planned Semiconductor Trade RulesRobert Hart is a senior reporter for Forbes covering science, technology and health with a frequent focus on artificial intelligence, space, weight loss drugs and emerging technologies. He joined Forbes in 2020 and is based in London. Rob has covered everything from the billionaire space race, the health impacts of overturning Roe v.
La source: ForbesTech - 🏆 318. / 59 Lire la suite »

Chip stocks bolster Nasdaq, S&P 500 before Fed verdictChip stocks bolster Nasdaq, S&P 500 before Fed verdict
La source: Investingcom - 🏆 450. / 53 Lire la suite »

Computer chip stocks plunge as Biden trade controls, Trump's Taiwan remarks rattle investorsMajor computer chip manufacturers like Nvidia and TSMC slumped this week as actions by President Biden and Donald Trump fueled renewed geopolitical concerns among investors.
La source: nypost - 🏆 91. / 67 Lire la suite »

Asia chip stocks tumble amid news the U.S. may consider trade curbsChip stocks in Asia tumbled on Thursday following a tech selloff on Wall Street amid reports the U.S. may be considering tighter export restrictions.
La source: nbcchicago - 🏆 545. / 51 Lire la suite »

Asia chip stocks tumble amid news the U.S. may consider trade curbsChip stocks in Asia tumbled on Thursday following a tech selloff on Wall Street amid reports the U.S. may be considering tighter export restrictions.
La source: nbcsandiego - 🏆 524. / 51 Lire la suite »