Why Taiwan Semiconductor Stock Tumbled Today
Contract semiconductor manufacturer Taiwan Semiconductor Manufacturing (NYSE: TSM) stock slid 2.2% through 12:22 p.m. ET Wednesday. Why? As you may have heard by now, President Trump is planning to take an equity stake in (NASDAQ: INTC).
Image source: Getty Images.
Following passage of the Biden administration's CHIPS Act supporting the U.S. semiconductor industry, Intel was awarded $10.9 billion in grants. But as Bloomberg reports, the Trump White House is now negotiating with Intel to convert those grants into a 10% stake in Intel stock.
Source Fool.com
Intel Corp. Stock
€87.41
-0.070%
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