China Semiconductor Threat Sparked a $100 Billion Chip Rout
- Semiconductor index fell 5.7%, its worst day since June
- ‘We’re starting a technologic cold war’: National Securities
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Stocks sellers didn’t show much discretion Thursday as the major indexes tumbled. But the outsize chipmaker rout may have had its origin in a move by China.
The Philadelphia Semiconductor Index fell 5.7% Thursday, its worst session since mid-June, following news that China is planning a sweeping set of new government policies to develop its domestic semiconductor industry and counter recent Trump administration restrictions. The decline shaved off about $100 billion in value for the gauge.