From CNBC: 2024-09-03 21:39:34

Asian semiconductor and related stocks are down following Nvidia’s sharp decline in the U.S. Nvidia tumbled over 9% on Wall Street amid economic concerns. South Korean companies like SK Hynix and Samsung, which supply chipsets to Nvidia, also dropped in value, impacting the wider market.

Direct suppliers to Nvidia, such as Tokyo Electron and Advantest, saw significant declines in their stock prices. SoftBank Group, which has a stake in chip designer Arm, and Taiwan Semiconductor Manufacturing Company, a contract manufacturer for Nvidia, also experienced drops in their shares.

Foxconn, internationally known as Hon Hai Precision Industry, lost 5% in Taiwan. Nvidia’s market cap plummeted by $279 billion in the U.S. following reports of a subpoena from the Department of Justice in an antitrust investigation. Concerns about the health of the U.S. economy continue to impact the semiconductor industry globally.

Read more: Asian chip stocks fall after Nvidia sell-off on Wall Street overnight