ASML shares fall after proposed U.S. export curbs target an already fragile China market

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shares fell on Tuesday after U.S. lawmakers last week proposed further measures that would restrict China from additional chipmaking tools and potentially impact the Dutch chip giant’s already fragile sales to the country.

Shares of ASML in the Netherlands were down around 2.6% at around 6:11 a.m. ET.

On Thursday, a group of bipartisan lawmakers introduced the Multilateral Alignment of Technology Controls on Hardware (MATCH) Act, designed to cut China off from chipmaking tools and target the country’s most critical semiconductor firms.

“While the United States has imposed extensive export controls to slow China’s semiconductor indigenization, U.S. allies have not fully matched these measures. This misalignment has left critical gaps that China continues to exploit,” said the office of Rep. Michael Baumgartner, R-Wash., who led the bill, in a statement published on April 2.