The U.S. is reportedly considering revoking exemptions that allow certain global chip manufacturers to export American technology to China, leading to a drop in U.S. chip stocks. Nvidia (NVDA, Financial) saw its stock fall by up to 2% before narrowing the decline to about 1%. TSMC (TSM) also experienced a nearly 2% drop.
The Wall Street Journal reported that U.S. Department of Commerce officials informed Samsung Electronics, SK Hynix, and Taiwan Semiconductor Manufacturing Co. that these exemptions might be canceled. This move could significantly impact the operations of these companies in their Chinese facilities.
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