Nvidia, Super Micro Computer lead AI trade carnage with both stocks down more than 12%

Artificial intelligence stocks powering much of 2024's market gains dropped Monday as U.S. recession fears sparked a global sell-off on Wall Street.stoked recession concerns, and worries that Federal Reserve is behind the curve on cutting interest rates to boost the economy. With investors in a risk-off mood, A.I. shares with high valuations were among the first to be dumped from portfolios.lost about 5%.

"Markets also appear to have become impatient for evidence that heavy investments in AI are starting to pay off for top tech firms," said Mark Haefele, chief investment officer at UBS Global Wealth Management.that Nvidia is reportedly delaying its latest AI chip by three months, which could impact megacap customers such as Meta Platforms and Microsoft.

Canada Canada Latest News, Canada Canada Headlines

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

Nvidia, Super Micro Computer lead AI trade carnage with both stocks down more than 12%Artificial intelligence stocks that have powered much of 2024’s market gains dropped Monday as U.S. recession fears sparked a global sell-off on Wall…
Source: nbcchicago - 🏆 545. / 51 Read more »

This utility is one of the best performing stocks in the market with room for more AI demand upsideVistra's stock performance in 2024 trails only AI heavyweights Super Micro Computer and Nvidia.
Source: CNBC - 🏆 12. / 72 Read more »

Stocks making the biggest moves premarket: Trump Media & Technology, Apple, Super Micro Computer and moreThese are the stocks posting the largest moves in premarket trading.
Source: CNBC - 🏆 12. / 72 Read more »