China ordered Meta to unwind its $2 billion acquisition of AI startup Manus, citing national security concerns. The White House accused China of stealing American AI technology on an "industrial scale" and warned of intensified crackdowns.
Supply chain disruptions stemming from the US, Israel, and Iran conflict contributed to weakness in semiconductor stocks, raising investor concerns about potential production delays and increased operational costs for technology hardware companies.
Nova (NASDAQ:NVMI) fell 2.6%, Analog Devices (NASDAQ:ADI) fell 2.4%, and Qorvo (NASDAQ:QRVO) fell 2.5% in the afternoon session.
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