AMD, Intel, Marvell shares also falling
Chip stocks were under pressure Tuesday as the U.S. said it would expand restrictions on semiconductor sales to China.
“The vast majority of semiconductors will remain unrestricted,” Commerce Secretary Gina Raimondo said on a call with reporters, according to the Associated Press. “But when we identify national security or human rights threats, we will act decisively and in concert with our allies.” Shares of Advanced Micro Devices Inc. AMD, -0.90% were off more than 2%, as were shares of Intel Corp. INTC, -2.09%, Marvell Technology Inc. MRVL, -1.33% and Broadcom Inc. AVGO, -2.42%.
The Commerce Department did not immediately respond to MarketWatch’s request for written information about the restrictions.
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