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Asian semiconductor and related stocks fell on Wednesday morning after Nvidia shares plunged sharply in the United States overnight.
In the United States, chip manufacturers NVIDIA Semiconductor stocks plunged more than 9% in regular trading, sending semiconductor stocks lower amid a sell-off on Wall Street. Economic data released on Tuesday once again raised concerns about the health of the U.S. economy. In after-hours trading on Tuesday, Nvidia’s stock price continued to slide, down 2%. Bloomberg reports The company received a subpoena from the Justice Department as part of an antitrust investigation.
Nvidia’s value chain extends to South Korea, namely memory chip maker SK Hynix and Samsung Electronics Group.
Samsung’s share price fell 2.6%, and SK Hynix’s share price fell more than 6%, dragging the composite Kospi index down 2.5%. The Kosdaq index of small-cap stocks fell 3%. SK Hynix provides Nvidia high-bandwidth memory chips for artificial intelligence chipsets.
Other direct suppliers to Nvidia include Tokyo Electronics fell 7%, while semiconductor test equipment supplier Advant test Shedding more than 8%.
japan investment holding co., ltd. SoftBank Groupowns shares in chip design company armdown 6%.
contract chip manufacturer British Semiconductor down 4.3%. TSMC makes Nvidia’s high-performance graphics processing units, which power large language models (machine learning programs that recognize and generate text).
Taiwanese Hon Hai Precision Industry The company, known internationally as Foxconn, fell 5%. It has a strategic partnership with Nvidia.
In the United States on Tuesday, Nvidia lost $279 billion in market value.
—CNBC’s Lim Hui Jie contributed to this report.
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