Trump Trade: Chip restrictions lead to semiconductor shortages in China

Catch up on the top industries and stocks that were impacted, or were predicted to be impacted, by the comments, actions and policies of President Donald Trump with this daily recap compiled by The Fly.

CHIP RESTRICTIONS: America’s chip restrictions are now causing shortages of advanced semiconductors in China, Lingling Wei, Amrith Ramkumar, and Robbie Whelan of The Wall Street Journal report. The shortages are extreme enough that China has begun to intervene how the output of Semiconductor Manufacturing International is distributed, sources told the Journal. Chinese authorities are working to give priority to Huawei Technologies. Publicly traded companies in the semiconductor space include AMD (AMD), Intel (INTC), Marvell (MRVL), Microchip (MCHP), Micron (MU), Nvidia (NVDA), Qualcomm (QCOM) and Texas Instruments (TXN).

NVIDIA CHIPS: While President Trump has made it clear he doesn’t want Nvidia to sell its most advanced AI chips to China, about 2,300 of them are being used to work for a Chinese AI company, Liza Lin and Stu Woo of The Wall Street Journal report. These were acquired through a series of deals across several countries, according to an investigation by the Journal. Despite American rules intended to prevent China from accessing the hardware, there is no evidence the deals violated U.S. law.

WHITE HOUSE DINNER: President Donald Trump is excluding Bank of America (BAC) CEO Brian Moynihan from a White House dinner with top Wall Street executives, highlighting ongoing tensions over the bank’s decision to “debank” him after the January 6 riot, Charles Gasparino writes in The New York Post‘s “On the Money.” Attendees are said to include JPMorgan (JPM) CEO Jamie Dimon, BlackRock’s (BLK) Larry Fink, Morgan Stanley (MS) CEO Ted Pick, Goldman’s (GS) David Solomon, and Nasdaq (NDAQ) CEO Adena Friedman, while Citigroup’s (C) Jane Fraser was invited but unable to attend, Gasparino writes.

OCTOBER JOBS: White House Press Secretary Karoline Leavitt told reporters at a news briefing that the October jobs and consumer price index reports are unlikely to be released due to the government shutdown, being quoted by Bloomberg as having said, “The Democrats may have permanently damaged the federal statistical system with October CPI and jobs reports likely never being released.”