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Benzinga
Benzinga
Business
Anusuya Lahiri

US Chip Stocks Tumble As Trade Tensions With China Heat Up

Nasdaq China United States Semiconductor Nvidia Micron Technology NVDA Taiwan Semiconductor ARM Holdings Plc AVGO
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Semiconductor equities faced sharp selling pressure on Friday, with shares of Nvidia Corporation (NASDAQ:NVDA), Broadcom Inc. (NASDAQ:AVGO), Marvell Technology, Inc. (NASDAQ:MRVL), Taiwan Semiconductor Manufacturing Co. Ltd. (NYSE:TSM), Intel Corporation (NASDAQ:INTC), Arm Holdings plc (NASDAQ:ARM), and Micron Technology, Inc. (NASDAQ:MU) all trading lower amid intensifying geopolitical friction between Washington and Beijing.

This market reaction reversed earlier weekly gains that were fueled by impressive quarterly results from contract chipmaker Taiwan Semiconductor and chip equipment maker ASML Holding N.V. (NASDAQ:ASML), which had briefly renewed investor optimism over the continued momentum of the AI sector despite global headwinds.

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