Global chip stocks fell sharply with ASML, Nvidia and TSMC hit amid reports of tighter export restrictions from the U.S. and a ramping up of geopolitical tensions.
Bloomberg reported on Wednesday that the Biden administration is considering using a wide-sweeping rule to clamp down on companies exporting their critical chipmaking equipment to China.posting declines amid reports of tighter export restrictions from the U.S. and a ramp-up of geopolitical tensions fuelled by comments from former U.S.
Washington's foreign direct product rule, or FDPR, allows the U.S. to put controls on foreign-made products even if they use the smallest amount of American technology. This can affect non-U.S. companies. CNBC has reached out to the U.S. State Department, the Bureau of Industry and Security and the Office of the U.S. Trade Representative for comment on the report.in the second quarter. However, 49% of its sales over the period took place in China — highlighting how much is at risk for the firm, in the event of tighter restrictions. ASML makes the machines that are required to manufacture the most advanced chips in the world.
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