Stock Market Turmoil as Chipmakers Face Export Restrictions and Tech Outage Wrecks Havoc

Benzinga
Benzinga
  • 3 months ago
Wall Street had a tumultuous week marked by a broad-based sell-off in chipmakers like ASML Holding and Tokyo Electron. This was driven by reports that the U.S. may accelerate export restrictions on chips sent to China.
Transcript
00:00It's Benzinga, and here's what's on the block.
00:02Wall Street had a tumultuous week marked by a broad-based sell-off in chipmakers like
00:07ASML Holding and Tokyo Electron.
00:10This was driven by reports the U.S. may accelerate export restrictions on chips sent to China.
00:15CrowdStrike's tech outage on Friday disrupted Microsoft systems and service-related systems
00:20across the globe.
00:21Fed Chair Jerome Powell said recent inflation reports support the goal of 2 percent inflation,
00:26increasing the likelihood of an interest rate cut in September.
00:29For all things money, visit Benzinga.com.

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