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Chip stocks drop on fears US to toughen China rules
The selloff came after a report that the US may further tighten rules on equipment exports to China.
The selloff came after a report that the Biden administration could be set to further tighten restrictions on exports of semiconductor equipment to China. Comments by former US President Donald Trump that Taiwan, the biggest producer of chips, should pay for its own defence added to the concerns. The falls came after Bloomberg News reported on Wednesday that the US government is preparing to impose its tightest curbs yet on semiconductor making equipment to China if firms like ASML and Tokyo Electron continue to give the country access to their advanced chip technology.
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