LONDON - European chipmakers Infineon Technologies, AMS and STMicroelectronics fell sharply on Monday amid worries the Huawei Technologies suppliers may suspend shipments to the Chinese firm due to a U.S. crackdown.
STMicro was down 4% at the bottom of Paris’ CAC 40, while Infineon fell 3.4% to the bottom of Frankfurt’s DAX 30 and AMS was down 4.6% at 0836 GMT. The report also said STMicro was set to have meetings this week to discuss whether to continue shipping to Huawei.Even if companies can continue to sell components without being subject to U.S. restrictions, any disruption to Huawei’s operations will have a knock-on effect on its suppliers, said Liberum analyst Janardan Menon.
🚨🚨🚨US technology stocks will definitely fall today! The rare earths needed for semiconductors will soon be restricted from exporting, which is brought by Trump.
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