Investing.com-The U.S. stock market opened lower on Thursday, and semiconductor companies underperformed after one of the world’s largest chipmakers indicated that the current supply crunch is about to end.
TSMC (NYSE:) CEO CC Wei told analysts on a conference call that he expects this quarter and the rest of this year, especially automakers’ chip deliveries to increase significantly. This news is seen as ending the windfall enjoyed by chip makers in the first six months of 2021.
TSM’s stock price fell the most in early trading, down 5.5%, but other chip makers also suffered heavy losses: NXP Semiconductors (NASDAQ:) shares fell 4.5%, Nvidia (NASDAQ:) shares fell 1.9%, and Intel (NASDAQ:) shares fell 1.3%.
As of 9:45 am Eastern Time (1345 GMT), the index fell 102 points, or 0.3%, to 34,830 points. Also decreased by 0.3% and decreased by 0.4%
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