US Tech Stocks Plunge Into Correction As China Chip Threat Shocks Markets
Global markets swung sharply this week after Chinese memory chipmaker CXMT surged 466% on its Shanghai debut, valuing it at about 3.3 trillion yuan (£365bn), and reports emerged that China had developed domestic deep-ultraviolet lithography tools, challenging ASML’s dominance. The news triggered a global sell-off in semiconductor and AI-linked stocks. South Korea’s Kospi fell 11.5% on Tuesday and another 6% Wednesday, while the Nasdaq entered correction on Thursday. Investor anxiety deepened amid reports Nvidia considered a $250bn financial backstop to OpenAI for a major datacentre project.
Prepared by Christopher Adams and reviewed by editorial team.
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Emphasizes corporate monopoly risks and regulatory oversight of market concentration. Focuses on objective financial data and international semiconductor market mechanics. Highlights geopolitical competition and national security threats from foreign industrial policies.
On July 27, 2026, CXMT Shanghai stock debut triggered volatility. https://www.investing.com/news/stock-market-news/cxmt-stock-outlook-after-its-recordbreaking-china-ipo-93CH-4820474
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US Tech Stocks Plunge Into Correction As China Chip Threat Shocks Markets
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