China chip Stocks Tumble as Biden Expands Technology Curbs

  • SMIC is down as much as 5.2%, the biggest loss in almost three months
  • The US expands restrictions on exports to Chinese companies

Chinese semiconductor stocks slumped after fresh US curbs on China’s access to American technology added to a disappointing start to the earnings season, stoking concerns that the industry’s downturn is far from over.

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