(Updates)
** U.S.-listed shares of TSMC fell as much as 6.3% in early trading
** TSM along with U.S. chip stocks pared premarket gains after co reports Q1 results
** Nvidia which was up 1.7% in premarket trade is now up 0.5%, Advanced Micro Devices now up 0.3%
** Applied Materials now down 2% and U.S.-listed shares of Arm Holdings down 1.2%
** Philadelphia Semiconductor index is down 1.2%% compared with a 0.1% decline in Nasdaq
** Fiona Cincotta, senior market analyst at City Index, attributes chip stocks turning negative to do with the "repricing of Fed expectations"
** Hawkish commentary from Federal Reserve Chair Powell and the prospect of keeping interest rates high for longer is just "taking the shine off those (chip) stocks", Cincotta added
** Higher Treasury yields also pressured equities, with the 10-year note last at 4.6223%
** TSMC reports Q1 profit of T$225.50 bln ($6.98 bln), beating estimates of T$218.1 bln - LSEG
($1 = 32.3850 Taiwan dollars)
(Reporting by Pranav Kashyap and Shristi Achar A)
((Pranav.Kashyap@thomsonreuters.com;))
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