Market Movers: US new export law heats up global microchip war

Money Talks

English - October 14, 2022 15:46 - 2 minutes
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The US is taking aim at Chinese companies once again, in a 'micro-chips' war that has seen the Silicon tech industry and its Chinese counterpart arm-wrestle for nearly a year. Washington has now introduced new restrictions that have significantly raised the stakes in this conflict. Shares in top Chinese chipmakers shed $8.6B in market value in only one session this week, as new US export controls threatened to obstruct Beijing's plans for technological self-sufficiency.

#Microchip #Semiconductor #USChinaTies