AI Chip Stocks Tumble as Trump-Xi Summit Skips Semiconductor Issues, Hits US Tech 100

AI and chip stocks plunged, pressuring the US Tech 100, after the Trump-Xi summit failed to tackle semiconductor trade issues. On May 12, investors anticipated a low-drama meeting boosting AI amid yuan's three-year high near 6.79/USD and Shanghai Composite's 11-year peak, eyeing potential Nvidia export easing. May 14 coverage escalated fears of an AI Cold War, citing 24,000 fake accounts, 16 million fraudulent exchanges, and Taiwan's 90% advanced chip dominance. The May 15 selloff saw Nasdaq drop 1.74%, Nvidia fall 3.4%, and Intel 6.13%, shifting sentiment to risk-off.