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From the heart of where innovation, money and power collie in Silicon Valley and beyond,

this is Bloomberg Technology with Caroline Hyde and Ed Ludlow. Eden at Ludd Loeb. Live from New York in San Francisco, this is Blueburg Technology.

Coming up, the US, it weighs tougher trade curbs on chips for China. Stocks tumble.

Plus Elon Musk moves SpaceX and X to Texas.

And will JD Vance be good for business?

We'll discuss, but first let's check in on these markets

because we are having the worst day for the NASDAQ and the NASDAQ 100 since

October of 2023. We are pulled lower in particular on the chip stocks

off by 3.9%. The key is trade tensions. The key is the

Biden administration wanting to be limiting sales of key AI technology and

chips to China and you have got the details on the micro.

Yeah, there's two names I'm looking at in particular.

They are global names. We were absolutely right, that it's the chip stocks in the US that are really

weighing on markets. Tokyo Electron, down 7.5% overnight in Japan, biggest drop since April of this year.

ASML, the Dutch chip equipment maker, down 10.8% on track for its biggest drop since March of 2020.

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