Nvidia stock tumbles from record high on news of possible US chip export cap, ASML's dismal earnings

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Nvidia and other chip stocks sank Tuesday following news of potential US export caps and a dismal earnings report from semiconductor equipment manufacturer...

that Biden administration officials are considering capping US chip exports to certain countries. Bloomberg, citing unnamed sources, reported that potential regulations would focus on Persian Gulf countries in the interest of national security.) also fell on the news. Intel declined to comment on the report. Nvidia and AMD did not immediately respond to requests from Yahoo Finance.

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