A smartphone with a displayed ASML logo is placed on a computer motherboard in this illustration taken March 6, 2023. REUTERS/Dado Ruvic/Illustration/File Photo
Semiconductor stocks in the United States and Asia fell after chip equipment maker ASML cut its annual sales forecast over weak non-AI chip demand while a report said the Biden administration was considering capping sales of advanced artificial intelligence processors to some countries.
AI chip giant Nvidia, which had briefly surpassed Apple as the world's most valuable company the previous day, dropped 4.5%, wiping out about $158 billion from its market cap, widening the gap with Apple's value of $3.56 trillion.
