(Reuters) -Synopsys ( SNPS ) suspended its annual and quarterly forecasts just a day after issuing them, as new U.S. export restrictions on China cast uncertainty over its ability to sell chip design software in the key market.

Shares of the company were down about 3% in afternoon trade.

The company said it received a letter from the Bureau of Industry and Security (BIS) of the U.S. Department of Commerce, informing Synopsys ( SNPS ) of new export restrictions related to China, after reporting results on Wednesday.

"Synopsys ( SNPS ) is currently assessing the potential impact of the BIS letter on its business, operating results and financial condition," it said in a statement.

The United States has ordered a broad swathe of companies to stop shipping goods to China without a license and revoked licenses already granted to certain suppliers, Reuters reported on Wednesday, citing three people familiar with the matter.

The new restrictions - which are likely to escalate tensions with Beijing - appear aimed at choke points to prevent China from getting products necessary for key sectors, one of the people said.