Moreover, bearish investor sentiments in the sector are evident from VanEck Semiconductor ETF’s ( SMH ) 25.5% decline over the past year, compared to the S&P 500’s 8% decline over the same period. “There’s a palpable fear that the semiconductor cycle has begun to turn negative and demand is slowing,” said Jason Benowitz, a senior fund manager at Roosevelt Investment Group in New York. Semiconductor stocks are hit with corporate warnings about slowing demand for chips used in electronic devices. The restriction could result in losses for the semiconductor industry. Last month, as tensions escalated between the United States and China over House Speaker Nancy Pelosi’s visit to Taiwan, the United States imposed restrictions on exporting high-end graphics computer chips to Russia, China, and Hong Kong.
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