Chipmaker rout engulfs TSMC and Samsung with $240 billion wiped out

Chip-related shares in Japan, South Korea and Taiwan slumped Tuesday, contributing to a wipeout of greater than $240 billion from the sector’s international market worth after the U.S. imposed curbs on China’s entry to semiconductor expertise.

Taiwan Semiconductor Manufacturing Co., the world’s largest contract chipmaker, plunged greater than 8% on Tuesday, essentially the most since Might 2021. Samsung Electronics and Tokyo Electron additionally tumbled on concern U.S. efforts to make sure worldwide cooperation with the measures will crimp their capability to export to China.