Washington unveiled sweeping curbs on the way chip companies do business with China’s tech industry, a series of restrictions that together represent some of the strongest actions taken so far to contain the rise of a geopolitical rival.

The actions, which incensed Beijing and provoked accusations of unfair targeting, threaten to disrupt a global economy already dealing with a potential recession, soaring inflation and lingering supply snarls. Some analysts warn it could strike a further blow to companies from Nvidia and Taiwan Semiconductor Manufacturing Co. to Applied Materials, as well as a raft of Chinese up-and-comers, that underpin the $550 …