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Nvidia's forecast dampens AI enthusiasm in other tech stocks

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Wall Street,AI Technology,Earnings Report

Nvidia dropped 6% and lost over $180 billion in stock market value following its earnings report, this week's centerpiece event on Wall Street, while a...

- Shares 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%. Microsoft and Amazon each dipped almost 1%. 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% since World War Two, the worst performance of any month, according to CFRA data.

 

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