BUZZ-US chipmakers fall after Trump imposes tariffs

Shares of U.S. chipmakers fall premarket after U.S. President Donald Trump imposed new tariffs of 25% on goods from Mexico and Canada and 10% on imports from China, raising concern over possible duties on EU imports too

Shares of AI chipmaker Nvidia NVDA.O fall 3.4% to $116.08

Networking chipmakers Broadcom AVGO.O slide 2.8% and Marvel Technology MRVL.O fall 2.7%; smartphone chipmaker Qualcomm QCOM.O loses 1.8%

Advanced Micro Devices AMD.O and Intel INTC.O decline 1.6% and 1.8%, respectively

Memory chipmaker Micron Technology MU.O slumps 2.4%

Arm Holdings ARM.O falls 3.4% and Texas Instruments TXN.O dips over 1.4%

Shares of chip-making equipment companies Applied Materials AMAT.O, Lam Research LRCX.O and KLA Corp KLAC.O also fall between 2.4% to 2.6%

iShares Semiconductor ETF SOXX.O down 2.1%; VanEck Semiconductor ETF SMH.O down 2.3%

Philadelphia Semiconductor Index .SOX rose 19.3% in 2024