QQQ slips 0.32% as China chip policy and tariff extensions dominate

QQQ ended 0.32% lower and SPY fell 0.23%, leaving QQQ 0.09 percentage points behind. Micron raised its guidance before the open, while AMD confirmed a China AI-chip export license and Nvidia introduced new robotics and simulation tools. During the session, Trump said the Nvidia and AMD arrangement covered older chips and excluded Blackwell, and a 90-day extension to the China tariff deadline was signed. Overnight, China was reported to urge firms not to use Nvidia H20 chips. These developments supplied mixed semiconductor and trade-policy context as both ETFs finished modestly lower.