Chip Stocks Shed $73 Billion After U.S. Curbs Nvidia Sales to China

(Bloomberg) — Semiconductor stocks slipped on Tuesday after the U.S. announced sweeping updates to export curbs designed to block China’s access to advanced computer chips, changes that will restrict the sale of semiconductors that Nvidia Corp. designed specifically for the Chinese market.

The PHLX Semiconductor Sector index, a gauge comprised of 30 chip stocks, was on track to erase about $73 billion in combined market value.