Global semiconductor stocks tumble as China develops advanced chip machines
Semiconductor stocks took a big hit worldwide on Monday as worries about competition and profitability concerns spooked investors.
ASML's shares dropped up to 8.4% after news that China is making its own advanced chip machines, a space long dominated by ASML.
Other chipmakers like ASM International and BE Semiconductor also saw their stock prices tumble.
US and Asian chip stocks tumble
The selloff didn't stop in the US NVIDIA's share price fell around 5%, and the VanEck Semiconductor ETF kept sliding too.
Over in Asia, Samsung lost more than 13% and Japan's Kioxia plunged over 18%, with other major players like Tokyo Electron also seeing double-digit drops.
The main reasons? Investors are uneasy about China catching up in chip tech and worried that AI hype has pushed valuations too high, leading to a global wave of selling.