Market Movers: Semiconductor competition heats up

This week, the year-long chips war between the US and China has taken a new turn. President Joe Biden on Tuesday signed a bipartisan bill that aims to strengthen US competitiveness with China by investing billions of dollars in domestic semiconductor manufacturing and science research. The bill includes more than $52B for US companies producing computer chips, as well as billions more in tax credits to encourage investment in semiconductor manufacturing. #UnitedStates #China #Semiconductor