The most recent decline was caused by a good September jobs report that gave investors assurance. The actions follow a volatile week that started with a ferocious rise and ended with a sudden sell-off that wiped out a large portion of the resulting profits. Nvidia (NVDA) and AMD (AMD), two significant chipmakers, saw their shares close down 3.4% and 1.1%, respectively. has imposed restrictions on its access to semiconductors, but doing so has dealt a further blow to an industry already grappling with reduced earnings as demand for computers, smartphones, and other electronic gadgets slows. Aiming to limit China’s scientific and military advancements, the U.S. The Dow Jones Industrial Average (DJI) lost about 90 points, or 0.3%, and the S&P 500 (GSPC) fell 0.8%.Īs chip stocks fell, technology companies bore the brunt of Monday’s selling. The Biden administration’s latest limits on China’s access to American technology sent chip stocks plunging and hurt the broader tech sector, with drops led by the technology-heavy Nasdaq Composite (IXIC), which fell 1% to a two-year low.
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