Shares of Taiwan Semiconductor Manufacturing Company — the world's biggest chip supplier — fell as much as 4.3% during the trading day.
A Bloomberg report Wednesday said the Biden administration may be thinking of clamping down on firms exporting their critical chipmaking equipment to China, further inflaming tensions between the two superpowers. "The chip companies have been the darlings of the market. There's digitization in almost everything that we touch. Any sort of tariffs and curbs to trade are going to impact these chip companies. We're seeing it across the globe," said Ayako Yoshioka, senior portfolio manager at Wealth Enhancement Group.But Yoshioka said buying opportunities still remain for long-term investors.
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