Investing.com-- U.S. stock index futures rose in evening deals on Wednesday, steadying after a rout in chipmaking stocks, on concerns over more trade disruptions, sparked steep losses on Wall Street.
Reports that the Biden administration was considering more export curbs on China, particularly in chipmaking technology, battered the sector, given that it could herald lower sales in China, which is a major consumer of chips. Tech stocks were also pressured by a broader shift into more economically sensitive sectors, amid growing bets that the Fed will begin cutting rates from September.TSMC is considered a bellwether for the chipmaking industry, and is expected to log a bumper second quarter profit on increased demand from the artificial intelligence industry.
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