The big story on Tuesday was a warning from chipmaker ASML of a slower than expected recovery in some areas of the chip sector.

AI chip giant Nvidia (NVDA.O), which had briefly surpassed Apple as the world's most valuable company the previous day, dropped 4.5%, wiping out about $158 billion from its market cap, widening the gap with Apple's value of $3.56 trillion.

TSMC’s induction to the trillion-dollar club also spurred a rally for its ally Nvidia, whose shares rose 4% to an all-time high.

TSMC's blockbuster results will be a welcome surprise to investors after ASML's earnings sent semiconductor stocks tumbling earlier this week.

AI chip giant Nvidia, which had briefly surpassed Apple as the world's most valuable company the previous day, dropped 4.5%, wiping out about $158 billion from its market cap, widening the gap with Apple's value of $3.56 trillion.

Shares of Intel were falling while other chip stocks were paring some losses on Wednesday, with shareholders hoping that Tuesday’s big selloff was just a temporary blip. Intel tumbled 1.9% ahead of the opening bell,

Global semiconductor stocks dropped, after ASML's third-quarter results pointed to a weaker 2025 sales outlook than the Dutch firm guided previously.