- Semiconductor stocks are taking a beating today after early morning reports and U.S. Treasury Secretary Steven Mnuchin’s response tweet about reported investment restrictions on China.
- Mnuchin’s tweet: "On behalf of @realDonaldTrump, the stories on investment restrictions in Bloomberg & WSJ are false, fake news. The leaker either doesn’t exist or know the subject very well. Statement will be out not specific to China, but to all countries that are trying to steal our technology."
- The Philadelphia Semiconductor Index is down 3.7%.
- Semiconductors stocks on the move: Micron (MU -7%), Nvidia (NVDA -5.7%), Marvell (MRVL -5.6%), AMD (AMD -5.5%), ON Semiconductors (ON -5.2%), ASML (ASML -5%), Cypress Semiconductors (CY -4.9%), Monolith Power (MPWR -4.2%), Intel (INTC -4.2%), MKS Instruments (MKSI -4.1%), Cree (CREE -3.8%), Cavium (CAVM -3.8%), Teradyne (TER -3.6%), Applied Materials (AMAT -3.7%), Silicon Motion (SIMO -3.5%), Microchip (MCHP -3.7%), Maxim (MXIM -3.6%), Integrated Device (IDTI -3.5%), Lam Research (LRCX -3.1%), Texas Instruments (TXN -3%), Qualcomm (QCOM -2.9%), Xilinx (XLNX -2.7%), Qorvo (QRVO -2.5%), Analog Devices (ADI -2%), and InterDigital (IDCC -2.1%).
- Previously: Nomura downgrades Intel on CEO search; INTC -2.3% (June 25)
- Previously: Futures fall as Trump targets Chinese investment (June 25)
- Previously: Nasdaq tumbles 2%; Mnuchin clarifies on China tech crackdown (June 25)
- Now read: Micron: Higher Value Products Lead To Higher Valuations
Original article