By Stephen Nakrosis


Shares of several chip makers are trading lower Thursday amid a broad market decline, after the U.S. government imposed new licensing requirements on shipments of some of the more advanced chips to China.

The Wall Street Journal reported that the U.S. Commerce Department declined to comment on changes to its policy, but did say the action was aimed at keeping China from obtaining American technology to advance its military.

At 11:37 a.m. ET, shares of Nvidia Corp. were trading 11.21% lower, at $134.19 a share. On Wednesday, Nvidia said it could lose up to $400 million in quarterly sales after the new licensing requirements were impose, as reported by The Wall Street Journal.

Shares of Advanced Micro Devices Inc. were trading 6.83% lower at 11:39 a.m. ET, down to $79.07 a share. Applied Materials Inc. shares had fallen 4.26% at 11:40 a.m. ET, to trade at $90.05 each. At 11:41 a.m. ET, Qualcomm Inc. shares were down 3.74%, at $127.32 a share. Shares of Broadcom Inc. were trading 3.27% lower at 11:43 a.m. ET, at $482.89 a share.

The tech heavy Nasdaq was down 2.03% just before midday Thursday.


Write to Stephen Nakrosis at stephen.nakrosis@wsj.com


(END) Dow Jones Newswires

09-01-22 1204ET