ASML Shares Fall 1.79% as US Raises Export Control Concerns Over EUV Machine
ASML•Shares of ASML dropped 1.79% after the US Commerce Secretary raised alarms that one of its EUV lithography machines may have reached China in breach of export controls. ASML responded that it has never shipped an EUV system to China and has fully complied with evolving US and Dutch restrictions.
1. US Export Allegation
US Commerce Secretary Howard Lutnick warned ASML leaders that one of the company's EUV lithography machines may have ended up in China in violation of current export restrictions, prompting a 1.79% intraday share decline.
2. Company Denial and Compliance
ASML asserted it has never shipped an EUV system to China and highlighted its ongoing adjustments to business operations to adhere strictly to both US and Dutch export controls.
3. Evolving Export Controls
EUV tools have been banned from Chinese export since 2023 under US-led restrictions, with the Netherlands enforcing parallel measures, and new US legislation proposals aim to compel allied nations to synchronize controls, explicitly referencing ASML equipment.
