Stocks making the biggest moves premarket: Nvidia, GitLab, Five Below, J.B. Hunt and more

Check out the companies making headlines in premarket trading. Chip stocks —Some of the largest semiconductor stocks were lower following a Bloomberg News report that said the Biden Administration is contemplating stiffer trade restrictions over concern that U.S. companies are giving China too much access to domestic semiconductor technology. Nvidia pulled back 4.4%, while Taiwan Semiconductor and AMD declined 4.7% and 4.1%, respectively.

which sells semiconductor equipment for chipmakers, sank more than 8% on the news which overshadowed better-than-expected quarterly results. The VanEck Semiconductor ETF was nearly 4% lower. Five Below — Shares of the discount retailer plummeted more than 15% after the company slashed its second-quarter outlook and announced the departure of CEO Joel Anderson.

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