US Semiconductor Stocks Join Global Rout as Biden Expands Curbs: Chinese bellwether SMIC falls 4% in Hong Kong trading

‘No Possibility of Reconciliation’ as US Slams China Chips

• Biden administration implemented sweeping new restrictions
• US move hampers China’s efforts to develop domestic technology
• The US added fresh restrictions on Chinese semiconductor firms in an effort to have US firms take the lead. They include:
  • Export restrictions on AI and supercomputing chips
  • Tighter rules on selling chips to Chinese companies
  • Adding more Chinese firms on the unverified list, adding more barriers to trade with these firms
• Chinese semiconductor stocks fell, with analysts worried the worldwide semiconductor industry, as Samsung and AMD reported large inventory surpluses last week

Source: https://www.bloomberg.com/news/articles/2022-10-10/china-chip-stocks-drop-as-biden-tightens-rules-on-us-tech-access

Source2: https://www.bloomberg.com/news/articles/2022-10-10/-no-possibility-of-reconciliation-as-us-chip-rules-slam-china

How does this impact your investments in the semiconductor sector?