Chip software stocks sink on report Trump ordered halt to China sales

The Synopsys headquarters in Mountain View, California, on April 13, 2022. Shares of chip design software makers Cadence and Synopsys tumbled in Wednesday trading after The Financial Times reported that the White House told them to stop selling to clients in China. Cadence stock declined nearly 11%, while Synopsys was down about 10%. The Bureau of Industry and Security under the U.S. Commerce Department sent letters to both companies and to Siemens, the newspaper said. Synopsys declined to comment. Cadence and Siemens representatives did not immediately respond to requests for comment. ... Read full article.