The past week has seen a sharp fall in the share price of major chipmaking firms, especially those in South Korea but now extending to Wall Street. There was a global selloff yesterday, with the falls in US chip and memory stocks leading to a drop in the tech-heavy NASDAQ index. There was also a major selloff in Japan where the shares of major chipmaking firms fell sharply. The fall in chip stocks pulled the Nikkei index down by 4 percent. The selloff also extended to Europe where the Dutch firm ASML, the world’s major manufacturer of chipmaking equipment, lost 2.9 percent.