Chip stocks down after Trump announces reciprocal tariffs

Shares of semiconductor companies down in extended trading after U.S. President Donald Trump announces reciprocal tariffs on trading partners

Trump displayed chart that listed reciprocal tariffs, including 34% on China and 20% on European Union, as response to duties on U.S. goods

Trump said he would impose 10% baseline tariff on all imports to U.S.

"Stock wise, I think some of this was predicted/priced in, but it is down on the news. Not down as bad as I thought though," says Ben Bajarin, CEO and principal analyst at Creative Strategies

In after-hours trading, Nvidia NVDA.O shares fall 3.2% to $106.88, Marvell Technology MRVL.O down 4.5% at $60.40, Intel INTC.O down 1.7% at $21.60

Broadcom AVGO.O shares down 4.8% at $163.90, Micron Technology MU.O down 4% at $85.05

U.S.-listed shares of British chip firm Arm Holdings ARM.O O9Ty.F down 3.1% at $104.90

Advanced Micro Devices AMD.O down 3% at $99.66, Qualcomm QCOM.O down 2.7% at $150

"For chips, PCs, semiconductors and server manufacturers, these tariffs, if they hold, will be quite disruptive," says Michael Ashley Schulman, partner and CIO at Running Point Capital Advisors