 Let's talk chips because the US has imposed a new round of sanctions on China. It's halting shipments of the more advanced AI chips to the rival economy and it's also trying to close any back doors by rolling out similar restrictions for countries that it thinks are at risk of buying up advanced semiconductors from the US and then reselling them to China. Now there have been concerns in the States for a while that exporting tech to China could fuel breakthroughs in AI and might help the country develop military applications. It's only about a year since the first controls were introduced over chip exports. As you would probably expect this did hit US chip companies and there are also modest market falls for tech stock in China as well.