US chip stocks fall after China imposes counter tariffs

Shares of U.S. chip stocks fall premarket after China imposes additional tariffs of 34% on all U.S. goods from April 10

The duties could lead to higher costs for semiconductor companies, hit margins and upend complex chip supply chains

Shares of Nvidia NVDA.O and Advanced Micro Devices AMD.O fall 4%, Broadcom AVGO.O drops 5%

Intel INTC.O slumps 6%, Qualcomm QCOM.O loses 3.5%, Micron Technology MU.O falls 5%

U.S.-listed shares of Arm Holdings ARM.O fall 5%, Marvell Technology MRVL.O down 4%

Major U.S. stock indexes plummeted on Thursday after president Donald Trump imposed sweeping tariffs on major trading partners