Stocks Slip as Oil Tops $80 and AI Chip Export Risk Weighs on Semis
A Bloomberg report on tighter U.S. controls for AI chip exports introduced new regulatory risk for market leaders.
Overview
- The S&P 500 fell 0.5% Thursday after dropping as much as roughly 1.4% intraday, with the Dow and Nasdaq also closing lower.
- U.S. crude climbed above $80 a barrel as the U.S.-Iran war raised supply concerns that pressured equities.
- Bloomberg reported the Trump administration is drafting rules that could require White House approval for international AI chip shipments.
- Semiconductor shares swung on the report: Nvidia fell as much as 2.8% before ending slightly higher, while AMD closed down 1.3%.
- Jim Cramer said the market is stuck in "limbo" and urged investors to remain invested despite the volatility.