Shares of technology companies tumbled as the Biden administration's new restrictions on artificial-intelligence exports weighed.

Nvidia shares slid after the White House launched new export restrictions on AI processors.

Shares of quantum-computing firms D-Wave Quantum and Rigetti Computing slumped after Meta Platforms Chief Executive Mark Zuckerberg said quantum computing was far from being a "practical paradigm," echoing comments from Nvidia Chief Executive Jensen Huang.

Apple is defending itself in the first hearing of a $1.8 billion U.K. class action lawsuit accusing the iPhone maker of abusing its dominance in the digital economy and overcharging customers on its App Store.


Write to Rob Curran at rob.curran@dowjones.com

(END) Dow Jones Newswires

01-13-25 1709ET