Chip stocks plunge after Trump's remarks on Taiwan and China
Financial Times — July 17, 2024, 05:00 PM UTC
Summary: Semiconductor stocks plummeted after Trump's comments on Taiwan and potential US trade restrictions on China. Nasdaq fell 2.6%, S&P 500 down 1.2%. Nvidia dropped 5.5%, AMD 8%. ASML saw an 11% decline. Taiwan Semiconductor Manufacturing Co shares fell 6%. GlobalFoundries rose 10%, Intel 3.6%. Concerns over political risks and tech profits led to market panic. AI sector faces uncertainty despite recent gains.
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