Nvidia's $300 Billion Wipeout Sparks Chip Sector Meltdown

Nvidia shares plunged 9.5% on Tuesday, wiping out nearly $300 billion in market cap and dragging chip stocks down, marking the worst day for the sector since March 2020. Major chipmakers like Intel, AMD, Marvell, Broadcom, and Qualcomm all saw significant declines amid concerns over the economy, despite Nvidia's continued AI-driven growth, with its stock still up 118% for the year. The broader market also reacted to underwhelming economic data, further raising fears of a slowdown.

https://www.cnbc.com/2024/09/03/nvidia-tumbles-leading-chip-stocks-lower.html

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