Tech Stocks Plunge Amid Geopolitical Tensions and Trump Remarks

Global chip stocks, including ASML, Nvidia, and TSMC, fell sharply due to reports of potential tighter U.S. export restrictions and geopolitical tensions exacerbated by comments from former President Donald Trump. The Biden administration is considering a crackdown on companies exporting chipmaking equipment to China, which could significantly impact firms like ASML that have substantial sales in China. Trump's remarks about Taiwan and U.S. defense commitments further added to the negative sentiment in the semiconductor market.