Last month, as tensions escalated between the United States and China over House Speaker Nancy Pelosi’s visit to Taiwan, the United States imposed restrictions on exporting high-end graphics computer chips to Russia, China, and Hong Kong. The restriction could result in losses for the semiconductor industry.
Semiconductor stocks are hit with corporate warnings about slowing demand for chips used in electronic devices. “There’s a palpable fear that the semiconductor cycle has begun to turn negative and demand is slowing,” said Jason Benowitz, a senior fund manager at Roosevelt Investment Group in New York.
