U.S.-listed Chinese stocks tumbled on Monday after the U.S. Department of Commerce announced a new set of rules restricting the sale of advanced computing semiconductors or related manufacturing equipment to China.
What Happened? On Friday, the Commerce Department announced a new set of export controls aimed at protecting U.S. national security and foreign policy interests. In addition to restricting U.S. sales of semiconductor technology to China, the new rules also require foreign companies to license American tools used to produce high-end chips sold to China.
