A U.S. government national security panel said it identified potential risks that warrant a full investigation of Singapore-based Broadcom Ltd.'s $117 billion bid for chipmaker Qualcomm Inc., a senior U.S. Treasury official said in a letter to the companies on Monday.

Shares of Qualcomm dipped 3.3 percent on growing investor concern that such government scrutiny, unusual for a deal that has not yet been agreed, would scupper any type of merger.

Some of the U.S. government's concerns relate to risks associated with Broadcom's relationships with foreign entities, Aimen Mir, the Treasury's deputy assistant secretary for investment security, said in the letter, without identifying who those parties might be.