Intel Corporation INTC shares are trading lower by 4.4% to $48.03 Tuesday afternoon. Shares of semiconductor and chip stocks are trading lower as Treasury yields rise, which has weighed on tech stocks.
The sector may be down in sympathy with ASML, which dropped following the Netherlands' decision to block the export of some lithography systems to China. The sector may also be pulling back after gaining in 2023.
What Happened With ASML?
ASML Holding shares are falling Tuesday as the Netherlands restricted the export of key lithography systems to China. The affected NXT:2050i and NXT:2100i systems are vital for making advanced microprocessors.
This decision parallels U.S. export restrictions and stems from a September rule mandating Dutch semiconductor firms to seek government approval for exporting certain chip-making equipment...Read More
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According to data from Benzinga Pro, INTC has a 52-week high of $51.28 and a 52-week low of $24.73.
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