The semiconductor sector is in a sour mood as recession fears have mounted. Last week, news emerged that high-flying graphics chipmaker Nvidia (NASDAQ: NVDA) could see growth come to a halt in its large gaming segment. Meanwhile, the recent cryptocurrency crash has led to a glut of used Nvidia graphics chips, which are used in crytpo mining, as miners have dumped them into distributor channels.
(Bloomberg) -- Japanese chemicals supplier Showa Denko K.K. expects to further raise prices and cut back unprofitable product lines as it grapples with a barrage of economic challenges confronting the $550 billion semiconductor industry.Most Read from BloombergNatural Gas Soars 700%, Becoming Driving Force in the New Cold WarCiti Says Oil May Collapse to $65 by the Year-End on RecessionUkraine Latest: Kyiv’s Immediate Funding Needs Hit $65 BillionBezos Slams Biden Over Call for Lowering of Gas P
Yahoo Finance Live looks at several of the day's trending stocks, including volatility in the semiconductor industry and Pfizer and Moderna opting to enhance COVID-19 booster shots to provide protection against new subvariants.