Nvidia suffers record R5-trillion one-day loss in market value

  • 📰 TechCentral
  • ⏱ Reading Time:
  • 38 sec. here
  • 4 min. at publisher
  • 📊 Quality Score:
  • News: 26%
  • Publisher: 71%

Nvidia Suffers Nouvelles

Nvidia,Record

Shares of Nvidia tumbled on Tuesday in the deepest-ever single-day decline in market value for a US company.

heavyweight Nvidia tumbled 9.5% on Tuesday in the deepest-ever single-day decline in market value for a US company, as investors softened their optimism about artificial intelligence in a broad market selloff following tepid economic data.lost $279-billion in market capitalisation, a major indication that investors are becoming more cautious about emerging AI technology that has fuelled much of this year’s stock market gains.

“Such a massive amount of money has gone to tech and semiconductors in the last 12 months that the trade is completely skewed,” said Todd Sohn, an ETF strategist at Strategas Securities.CEO Pat Gelsinger and key executives are expected to present a plan to the company’s board of directors to slice off unnecessary businesses and revamp capital spending at the struggling chip maker.

At its July record high close, Nvidia had almost tripled in 2024. Its recent losses leave it up 118% year to date.Nvidia’s record one-session loss in stock market value was greater than the $232-billion decline suffered by Facebook owner Meta Platforms on 3 February 2022, when the social media company issued a dismal forecast, according to LSEG data.

 

Merci pour votre commentaire. Votre commentaire sera publié après examen.
Nous avons résumé cette actualité afin que vous puissiez la lire rapidement. Si l'actualité vous intéresse, vous pouvez lire le texte intégral ici. Lire la suite:

 /  🏆 8. in BE

Belgique Dernières Nouvelles, Belgique Actualités