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 RecessionOil Plummets Below $100 as Recession Risks Come to ForefrontUS Wants Dutch Supplier to Stop Selling Chipmaking
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.