Shares of Nvidia and other semiconductor stocks dropped Tuesday after the U.S. said it would would significantly constrict exports of artificial-intelligence chips, making it harder for U.S. companies to sell products to the Chinese market.
Nvidia was down nearly 4%, among the worst performers in the S&P 500. AMD was off less than 1%, while Intel dropped 1%. An index of chip stocks retreated%.
Meanwhile, shares of VMWare were down 6%. The company’s deal to sell to semiconductor giant Broadcom is expected to close this month. Broadcom’s stock was down nearly 2%.
