Intel’s Stock Tumbles After Trump Says CEO Must Resign

Intel’s shares slumped Thursday as President Donald Trump said in a social media post that the chipmaker’s CEO must resign immediately. “The CEO of Intel is highly CONFLICTED and must resign, immediately,” Trump posted on Truth Social. Trump made the post after Sen. Tom Cotton sent a letter to Intel Chairman Frank Yeary expressing concern over CEO Lip-Bu Tan’s investments and ties to semiconductor firms that are reportedly linked to the Chinese Communist Party and the People’s Liberation Army, and asked the board whether Tan had divested his interests in these companies to eliminate any conflicts of interest.