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AI Earthquake: Semiconductors Suffer Worst Selloff In Years On Stricter US Chip Exports To China
The semiconductor sector is enduring one of its worst trading days in years, driven by investor concerns over the Biden administration’s potential tightening of regulatory restrictions on chip exports to China.
The iShares Semiconductor ETF (NYSE:SOXX) plummeted 5.4% by 12:20 p.m. ET, eyeing the worst session since October 2022. Similarly, the VanEck Semiconductor ETF (NYSE:SMH) sunk 5.5%.
Chart: Chipmakers Suffer Worst Day Since October 2022
Image: Benzinga Pro
The Biden administration is considering enacting the harshest trade restrictions if chipmakers continue to grant China access to advanced semiconductor technology, Bloomberg News reported Wednesday.
Dutch chipmaker giant AMSL Holdings NV (NASDAQ:ASML) appears to be a primary target ...