Chip stocks in Asia plummeted on Thursday following reports that the U.S. may impose stricter export restrictions on advanced semiconductor technology to China. TSMC lost over $50 billion in market value over two days. The decline was exacerbated by U.S. Republican presidential nominee Donald Trump's remarks that Taiwan should pay America for its defense. Other major Asian tech companies also experienced losses. Analysts note that macro and geopolitical factors are overshadowing company fundamentals.
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00:00It's Benzinga, and here's what's on the block.
00:02Chip stocks in Asia plummeted on Thursday following reports that the U.S. may impose
00:06stricter export restrictions on advanced semiconductor technology to China.
00:11TSMC lost over $50 billion in market value over two days.
00:15The decline was exacerbated by U.S. Republican presidential nominee Donald Trump's remarks
00:20that Taiwan should pay for America's defense of its country.
00:23Other major Asian tech companies also experienced losses.
00:27Analysts note that macro and geopolitical factors are overshadowing company fundamentals.
00:31For all things money, visit Benzinga.com.