US chip stocks BLEED as China reportedly begins mass producing homegrown DUV lithography machines.
Nvidia fell over 5%, ASML and MU dropped 7%, while Sandisk plunged 12% after reports that a state backed Chinese company has started mass-producing domestically developed DUV chipmaking equipment, raising fresh concerns over China's push for semiconductor self sufficiency.
The S&P 500 has now turned negative, erasing its morning gains as the semiconductor selloff dragged the broader market lower.
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