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SOXX is never named; author gives no own directional judgment on a specific asset, only general sector commentary and profit-taking observation.
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No Turnaround on Chip Export Controls: Following Trump's visit to China, US officials explicitly stated that the bilateral talks did not focus on easing semiconductor export controls, dashing hopes for a loosening of policy in the AI and semiconductor sectors. Market Profit-Taking: Funds that had previously bet on the positive effects of the US-China summit chose to take profits today as the news "dropped," causing a temporary halt to the global bull market driven by artificial intelligence (AI).