Intel, AMD stocks sink as China initiates chip restrictions

Shares of Intel (INTC) and Advanced Micro Devices (AMD) are plunging after China issued guidelines to phase out the use of US chipmakers' products in government servers and computers, according to a report from the Financial Times. The guidelines, aimed at boosting security within government systems, have approved only 18 processors, all of which are from Chinese companies. This move is seen as a direct challenge to the dominance of American chip manufacturers as security tensions escalate between the US and China. Yahoo Finance's Akiko Fujita breaks down the details. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live. Editor's note: This article was written by Angel Smith