E-Minis Decline As U.S. Halts Some Chip Sales To China

E-Minis sit between 0.3-1.0% softer apiece in early Asia-Pac dealing, with tech-heavy NASDAQ 100 contracts leading losses, operating a little above freshly-made five-week lows at writing.

• The decline follows news of U.S. officials halting the export of some computing chips from industry giants Nvidia and AMD to China, adding to the bearish bias in equities from Wednesday’s NY session.
• The move appears centred at controlling the supply of chips relevant to artificial intelligence and machine learning capabilities to China, with both Nvidia and AMD instructed to restrict exports of specific chipsets.
• Nvidia and AMD extended losses in post-market trade after the news, declining 6.7% and 3.5% respectively after the former reported that the measure could impact quarterly sales, although AMD has stated that they expect no material impact on their business.