From Barchart: 2025-04-16 18:32:00

Advanced Micro Devices (NASDAQ: AMD) stock experienced a significant drop, ending the day down 7.4% amid broader market declines. AMD disclosed a ban on sales of its MI308X processor to China, leading to an expected $800 million write-down. New U.S. policies requiring an export license could further impact the company’s operations. Additionally, TSMC plans to raise chip prices by 30%.

The Trump administration’s announcement of increased tariffs on Chinese goods to 245% caused investors to reduce exposure to chip stocks. Federal Reserve Chairman Jerome Powell’s comments on potential tariff impacts and interest rate cuts added to the negative sentiment. The overall macro pressures led to a challenging day for AMD stock.

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Read more at Barchart: Why AMD Stock Plummeted Today