Global stock markets rocked by potential US crackdown on chipmakers

Category: Finance

Global stocks fell as technology shares sank due to US plans for tighter import controls on companies sharing chipmaking technology with China. London's FTSE 100 edged higher, while Germany's DAX and Paris' CAC 40 declined. US blocked Chinese access to advanced chips, affecting companies like Tokyo Electron and ASML Holding NV. Trump's comments on Taiwan and currency market interventions also impacted markets. S&P 500 and Dow Jones hit all-time highs. US retailers' sales remained steady, leading to expectations of interest rate cuts by the Federal Reserve. Crude oil prices rose slightly.

Keywords: Global stocks, Technology shares, US import controls, Chipmaking technology, ASML Holding NV, Taiwan, Federal Reserve, Crude oil prices

Source: The Guardian

Update At: 7/18/2024

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