Nvidia's forecast dampens AI enthusiasm in other tech stocks

FILE PHOTO: A smartphone with a displayed NVIDIA logo is placed on a computer motherboard in this illustration taken March 6, 2023. REUTERS/Dado Ruvic/Illustration/File PhotoShares of Nvidia and other technology heavyweights fell late on Wednesday, a discouraging sign for investors betting that a strong forecast from the dominant seller of AI chips would fuel fresh gains in Wall Street's most valuable companies.

Shares of Broadcom and Advanced Micro Devices were each down about 2 per cent. Microsoft and Amazon each dipped almost 1 per cent. The lackluster response to Nvidia's earnings report could help set the tone for market sentiment heading into what is historically a volatile time of the year. The S&P 500 has fallen in September by an average of 0.8 per cent since World War Two, the worst performance of any month, according to CFRA data.

Australia Australia Latest News, Australia Australia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Singapore stocks fell on Wednesday’s open—STI slipped by 0.1%In the broader market, 51 counters were in the red after early trading saw 25.9M securities change hands, valued at approximately S$25.2M
Source: IndependentSG - 🏆 2. / 72 Read more »

Singapore stocks open lower on Wednesday—STI edged down by 0.1%In the broader market, 72 stocks fell compared to 60 that advanced, with 58.4 million securities worth S$68.2 million traded
Source: IndependentSG - 🏆 9. / 63 Read more »