US Escalates Chip Export Controls on China: US Stock Semiconductor Sector Under Pressure, NVIDIA Leads Decline

On July 30, 2026, the US Commerce Department announced further AI chip export restrictions on China, adding multiple Chinese entities to the 'Entity List' and expanding control over high-performance chips. This caused US semiconductor stocks to fall broadly, with NVIDIA (NVDA) down over 5%, AMD (AMD) down over 4%, and the Philadelphia Semiconductor Index plunging 3.2%. Analysts said the new rules could accelerate global chip supply chain restructuring, putting pressure on US semiconductor revenu