Chip stocks fall after Commerce Dept bars 5 more Chinese firms from buying US parts [CNBC]
Xilinx, Inc. (XLNX)
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Source: CNBC
Chip stocks fall after Commerce Dept bars 5 more Chinese firms from buying US parts The U.S. Commerce Department has banned five more Chinese entities from buying U.S. components after blacklisting telecom giant Huawei last month. Higon, Chengdu Haiguang Integrated Circuit, Chengdu Haiguang Microelectronics Technology, Sugon and Wuxi Jiangnan Institute of Computing Technology are the five Chinese firms added to the department's entity list, according to a filing The department said these companies's activities "pose a significant risk of being or becoming involved in activities contrary to the national security and foreign policy interests of the United States." Advanced Micro Devices tumbled more than 2%, while Xilinx and Nvidia also fell 2.2% and 1% respectively. The move came before President Donald Trump's key meeting with Chinese leader Xi Jinping at the G-20 summit this month to discuss the lingering trade differences. The U.S. and China have slapped tariffs on billions of dol
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