Advertisement
New Zealand markets closed
  • NZX 50

    12,105.29
    +94.63 (+0.79%)
     
  • NZD/USD

    0.5981
    -0.0024 (-0.41%)
     
  • NZD/EUR

    0.5532
    -0.0011 (-0.20%)
     
  • ALL ORDS

    8,153.70
    +80.10 (+0.99%)
     
  • ASX 200

    7,896.90
    +77.30 (+0.99%)
     
  • OIL

    82.43
    +1.08 (+1.33%)
     
  • GOLD

    2,225.20
    +12.50 (+0.56%)
     
  • NASDAQ

    18,263.97
    -16.87 (-0.09%)
     
  • FTSE

    7,960.49
    +28.51 (+0.36%)
     
  • Dow Jones

    39,754.35
    -5.73 (-0.01%)
     
  • DAX

    18,494.63
    +17.54 (+0.09%)
     
  • Hang Seng

    16,541.42
    +148.58 (+0.91%)
     
  • NIKKEI 225

    40,168.07
    -594.66 (-1.46%)
     
  • NZD/JPY

    90.3880
    -0.3920 (-0.43%)
     

Why Taiwan Semiconductor, Intel, and Qualcomm Fell Today

Why Taiwan Semiconductor, Intel, and Qualcomm Fell Today

Shares of leading semiconductor companies Taiwan Semiconductor Manufacturing (NYSE: TSM), Intel (NASDAQ: INTC), and Qualcomm (NASDAQ: QCOM) all fell today, declining 2.9%, 2.6%, and 3.6%, respectively, as of 3:37 p.m. ET. First, widespread protests in China over COVID-19 restrictions erupted this past weekend, putting pressure on any stock with exposure to China or products made there. Second, a report from a leading tech industry research company predicted a bigger decline in overall semiconductor revenue next year than it had forecast just four months ago.