Intel’s shares are tumbling before markets opened Thursday after President Donald Trump said in a social media post that the chipmaker’s CEO needs to resign. “The CEO of Intel is highly CONFLICTED and must resign, immediately,” Trump posted on Truth Social. “There is no other solution to this problem. Thank you for your attention to this problem!”

President Donald Trump called for the Chief Executive Officer of the Intel technology company to step down Thursday, without stating precisely why.

President Donald Trump stunned markets Wednesday by announcing 100% tariffs on imported semiconductor chips — but major chip stocks rallied. Taiwanese chip giant TSMC's stock closed 4.9% higher. In South Korea, Samsung Electronics ended 2.5% higher while SK Hynix reversed losses of over 3% in early trade to close 1.4% up.

President Trump threatened on Wednesday to impose a 100 percent tariff on foreign semiconductors, in an effort to bring supply chains for electronics back to the United States. The tariff, which could be unveiled next week,

President Donald Trump’s sweeping new tariffs officially took hold Thursday, as he barrels forward with his turbulent push to reshape global trade.