Shares of Synopsys took a sharp U-turn into the red on Thursday after the provider of semiconductor-design software withdrew its financial guidance given the uncertainties created by new restrictions on exports to China.

Synopsys suspended its annual and quarterly forecasts just a day after issuing them, as new U.S. export restrictions on China cast uncertainty over its ability to sell chip design software in the key market.

Synopsys Inc., a top maker of chip-design software, suspended its financial guidance for the current quarter and fiscal year after receiving word from the US government about new restrictions on exports to China.