Tech stocks, including semiconductor companies, saw significant declines in afternoon trading

From None: 2024-07-17 13:57:50

Tech stocks, including XLK and XSD, dropped in afternoon trading. Semiconductor stocks took a hit with ASML, ARM, AMD, Qualcomm, and Nvidia seeing significant declines after reports of tighter US restrictions on trade with China. ASML reported lower earnings and sales, along with a bleak Q3 outlook.

Former President Donald Trump’s comments on Taiwan impacted TSM’s stock, leading to a 7.4% drop. GitLab is exploring a potential sale following acquisition interest, causing their shares to spike by 8%.



Read more at None: Sector Update: Tech Stocks Slump Wednesday Afternoon