Shares of major global semiconductor equipment companies, including ASML ($ASML), Lam Research ($LRCX), KLA Corp. ($KLAC), and Micron ($MU), rose

ASML and Tokyo Electron shares rose after a report that the U.S. is considering sanctions on China’s chip industry that stop short of earlier proposals.

Trump announced plans to impose 10% tariffs on Chinese goods “above any additional tariffs,” after blaming the country for the inflow of illegal fentanyl into the U.S.

ETFs that invest in stocks in Canada, Mexico and China were falling Tuesday, after President-elect Donald Trump warned about new tariffs

Asian stocks were heavy on Wednesday as investors fretted over what countries could be targeted for tariffs under incoming U.S. President Donald Trump, a day after he pledged new levies on Canada, Mexico and China.