Trump’s Push for Intel Stake Raises Concerns for Tech Stocks

A slump in U.S. tech stocks—led by a $156 billion decline in Nvidia’s market value—may be the result of more than worry over stretched valuations and uncertainty about Federal Reserve rate cuts. Reuters, meanwhile, reported that Lutnick is also pushing President Donald Trump to authorize equity stakes in other tech companies, including foreign-owned groups with U.S. operations, through the conversion of grants made under President Joe Biden’s Chips and Science Act. “We’ll deliver the money which was already committed under the Biden administration [and] we’ll get equity in return for it,” Lutnick told CNBC in a Tuesday interview that focused on the government’s planned Intel stake.

Continue Reading

View Comments