Chip stocks faced even more pressure Monday following a report President Joe Biden will ban U.S. chip makers from doing business with China’s Huawei Technologies Co. The PHLX Semiconductor Index
SOX,
fell to around 2,865 from 2,885 following a report from Bloomberg News that the Biden Administration was contemplating cutting off handset and mobile device maker Huawei off from U.S. suppliers like Intel Corp.
INTC,
and Qualcomm Inc.
QCOM,
which had just settled a longstanding patent-license dispute with Huawei in late 2020.
![Hyundai has a new baby EV in the works: Is this our first look at the IONIQ 1? [Images]](https://i0.wp.com/electrek.co/wp-content/uploads/sites/3/2026/02/Hyundai-IONIQ-1-EV-front.jpeg?resize=1200%2C628&quality=82&strip=all&ssl=1 "Hyundai has a new baby EV in the works: Is this our first look at the IONIQ 1? [Images]")
