ASML stock drops amid US scrutiny over China exports
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- US Commerce Secretary Howard Lutnick raised concerns that ASML chipmaking tools entered China illegally.
- Following the meetings, shares of the technology firm fell as much as 2.3 percent in early trading.
- The technology manufacturer is now working to provide documentation verifying full compliance with global trade restrictions.
US officials confronted ASML Holding (AMS:ASML) over allegations that one restricted lithography machine entered China.
These high-tech systems are typically banned from shipment to China under export restrictions established during the first Trump administration.
A corporate spokesperson stated that the manufacturer has never distributed an extreme ultraviolet lithography system to Chinese buyers.
Government authorities claimed to possess evidence of related equipment exports but declined to provide public proof, citing information sensitivity.
Following the announcement, ASML's share price was down 2.3% in Amsterdam trading.
The manufacturer noted that its specialized chipmaking machines are produced in limited quantities and require continuous upkeep by staff.
Despite the recent regulatory friction, the company's shares have advanced by about 80% since the start of the year.
