Chip Stocks Slide on Report of New Possible Limits on China

Shares of Taiwan Semiconductor Manufacturing Co. and other chipmakers slid on Friday after the Wall Street Journal reported that the Trump administration is considering further restrictions on China.

A US official told top global semiconductor makers that he wanted to revoke waivers they have used to access American equipment in China, the Journal said, citing unidentified people familiar with the matter said. Such a move is expected to escalate trade tensions, the newspaper reported.