On Friday, the semiconductor sector experienced widespread declines. As of press time, Micron Technology (MU.US) fell over 3%, while Broadcom (AVGO.US) and Nvidia (NVDA.US) dropped more than 1%. AMD (AMD.US) declined over 1.2%, and Taiwan Semiconductor (TSM.US) was down 0.44%.
On the news front, U.S. President Trump announced that he would impose tariffs on semiconductors within the next two weeks, marking the latest indication of his plans to significantly expand the tariff system. Speaking to reporters aboard Air Force One while en route to Alaska for a summit with Russian President Putin on Friday, Trump stated: "I will determine tariffs on steel and chips next week and the week after. I mean chips and semiconductors - we will determine this next week or sometime in the coming weeks."
Trump added: "The tax rate I intend to set could be 200%, or perhaps 300%?"
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