Frankfurt US investors went into reverse on Monday following increased Russian attacks on Ukraine and semiconductor export controls to China. The Dow Jones index of benchmarks fell 0.7 percent to 29,077 points through midday, while the broader S&P 500 fell 1.2 percent to 3,597 points.
The index on the Nasdaq technology exchange fell even more sharply, dropping 1.6 percent to 10,486 points. Export restrictions to China imposed by the USA pushed prices down here. Among other things, companies are no longer allowed to supply systems for the production of high-quality computer chips.
Papers from the semiconductor companies Intel, Nvidia, Qualcomm, Micron Technology and Advanced Micro Devices fell by up to five percent. “The measures will hamper China’s chip sector, thwart growth plans and potentially slow down innovation in both East and West,” warned analyst Danni Hewson of brokerage house AJ Bell.
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