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Nvidia, TSMC, chip stocks fall after Trump announces sweeping reciprocal tariffs [Yahoo! Finance Canada]

Apple Inc. (AAPL) More Company Research Source: Yahoo! Finance Canada

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President Trump's announcement of sweeping reciprocal tariffs affecting the semiconductor supply chain. Nvidia stock dropped around 4%, while rival Advanced Micro Devices ( AMD ) dropped 3.8%. Broadcom ( AVGO ) fell 5% and Micron ( MU ), which supplies memory chips for Nvidia's GPUs — graphics processing units — dipped over 3%. TSMC, the Taiwanese contract chip manufacturer that makes the world's most advanced semiconductors for Nvidia and Apple ( AAPL ), sank more than 4%. Trump said Wednesday afternoon in a much-anticipated announcement that he will sign an executive order implementing reciprocal tariffs varying by country on top of a 10% worldwide base tariff . That includes reciprocal tariffs of 34% and 32% on imports from China and Taiwan, respectively. The two are some of the largest exporters of AI servers using Nvidia's GPUs to the US. US tariffs on imports from these countries would make purchases of servers using Nvidia's GPUs more expensive, which could hamper deman [Read more]

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