Emerging China threat puts a scare into AI hardware stocks. Is the ‘picks and shovels’ trade breaking down?
Reported by MarketWatch · marketwatch.com · July 28, 2026
Asian stocks sold off sharply on Tuesday amid reports that China is now capable of manufacturing DUV lithography machines.
What the tape says
What to watch: Monitor chip inventory cycles — overhang periods precede sharp upside moves in semis.
Market reaction today: $EMRH +0.00%
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