09:24 AM EDT, 07/17/2024 (MT Newswires) -- Semiconductor stocks were falling in recent premarket activity Wednesday amid reports of tighter US export restrictions to China.

Bloomberg reported late Tuesday that President Joe Biden is mulling severe trade curbs if chipmakers keep giving China access to advanced semiconductor technology.

ASML ( ASML ) shares tumbled 8%, Nvidia ( NVDA ) dropped 4.2%, AMD (AMD) fell 4.3%, Qualcomm ( QCOM ) shed 4.6%, and Arm (ARM) lost 4.4%.

Price: 990.03, Change: -78.16, Percent Change: -7.32