Nvidia China Export Controls Workaround
Microchip stocks are a significant driver of the Nasdaq's decline.
Too little corroboration in the last 3 days to call a trend (2 articles). Watching for it to gain traction.
"South Korea's Kospi index fell 4.5%. In Japan, HyinH Electronics and Samsung benefited from a chipmaker frenzy that had lost memory from global markets."
"Chip stocks also dropped, with Nvidia, AMD and Arm Holdings down 1.2 per cent, 3.2 per cent and 6.8 per cent, respectively."
""The Nasdaq has retreated sharply from its October peak and is poised for a steep decline in November amid skepticism over tech monetization prospects.""
"The Biden administration's consideration of stringent trade restrictions against China caused microchip stocks to drop 6.8%, leading to the biggest one-day decline for the Philadelphia SE Semiconductor index since March 2020."
"The Biden administration's potential severe trade restrictions against China added fuel to the fire for microchip stocks."