Sightful Invest
  • Business
  • Investing
  • Politics
  • Stock
Top Posts
Jury soon to decide fate of Trump golf...
Trump cancels meeting with Schumer, Jeffries over ‘ridiculous...
Harris accuses Biden of ‘perceived blank check’ for...
Waltz to root out antisemitism, eliminate ‘woke’ programs,...
Trump slams UN for ‘creating new problems,’ questions...
Trump denounces European recognition of Palestinian state as...
Jurors begin deliberations in Trump golf course assassination...
House Oversight probes whether American retirees’ pension funds...
Trump draws laughs from world leaders moments into...
New book reveals what Kamala Harris ‘moaned’ to...
  • Business
  • Investing
  • Politics
  • Stock

Sightful Invest

Business

Nvidia’s $279 billion wipeout — the biggest in U.S. history — drags down global chip stocks

by admin September 5, 2024
September 5, 2024
Nvidia’s $279 billion wipeout — the biggest in U.S. history — drags down global chip stocks

Global semiconductor and associated stocks fell on Wednesday, following a steep plunge in Nvidia’s share price in the U.S. overnight.

In the U.S., chipmaker Nvidia plunged more than 9% in regular trading, leading semiconductor stocks lower amid a sell-off on Wall Street. Economic data published Tuesday resurfaced jitters about the health of the U.S. economy. Nvidia shares continued sliding in post-market trading Tuesday, falling 2%, after Bloomberg reported that the company received a subpoena from the Department of Justice as part of an antitrust investigation.

Around $279 billion of value was wiped off of Nvidia on Tuesday, in the biggest one-day market capitalization drop for a U.S. stock in history. The previous record was held by Facebook-parent Meta, which suffered a $232 billion fall in value in a day in February 2022.

Nvidia’s value chain extends to South Korea, namely, memory chip maker SK Hynix and conglomerate Samsung Electronics.

Samsung shares closed 3.45% lower, while SK Hynix, which provides high bandwidth memory chips to Nvidia, slid 8%.

Tokyo Electron dropped 8.5%, while semiconductor testing equipment supplier Advantest shed nearly 8%.

Japanese investment holding company SoftBank Group, which owns a stake in chip designer Arm, fell 7.7%.

Contract chip manufacturer Taiwan Semiconductor Manufacturing Company declined more than 5%. TSMC manufactures Nvidia’s high-performance graphics processing units which power large language models — machine learning programs that can recognize and generate text.

Taiwan’s Hon Hai Precision Industry — known internationally as Foxconn — lost nearly 3%. It has a strategic partnership with Nvidia.

The selling in Asia filtered through to European semiconductor stocks. Shares of ASML, which makes critical equipment to manufacture advanced chips, fell 5% in early trade. Other European names such as ASMI, Be Semiconductor and Infineon, were all lower.

This post appeared first on NBC NEWS

previous post
Kamala Harris still unclear on whether she would stop weapons shipments to Israel
next post
Bitcoin Well Completes Full Lightning Network Integration to the Bitcoin Portal in Canada

You may also like

Trump family’s American Bitcoin makes stock market debut

September 11, 2025

Amazon is responsible for dangerous products sold on...

July 31, 2024

Increased sausage demand may be a red flag...

August 27, 2024

Temu slashes U.S. ad spending, plummets in App...

April 17, 2025

Amazon taps Xbox co-founder to lead new team...

May 30, 2025

Crash victims’ families prepare to make what could...

September 4, 2025

Lawmakers ask Mark Zuckerberg to show how Facebook,...

August 17, 2024

Bronfman’s Paramount bid could keep Shari Redstone involved...

August 26, 2024

Walmart-owned Sam’s Club tests a future without checkout...

October 10, 2024

Businesses are cautiously spending on corporate travel as...

July 24, 2025

Recent Posts

  • Jury soon to decide fate of Trump golf course alleged gunman Ryan Routh
  • Trump cancels meeting with Schumer, Jeffries over ‘ridiculous demands’ as funding deadline looms
  • Harris accuses Biden of ‘perceived blank check’ for Netanyahu in Hamas war
  • Waltz to root out antisemitism, eliminate ‘woke’ programs, get ‘back to basics’ at the United Nations
  • Trump slams UN for ‘creating new problems,’ questions its role in fiery UNGA speech

    Sign up for our newsletter to receive the latest insights, updates, and exclusive content straight to your inbox! Whether it's industry news, expert advice, or inspiring stories, we bring you valuable information that you won't find anywhere else. Stay connected with us!


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Categories

    • Business (927)
    • Investing (3,042)
    • Politics (3,719)
    • Stock (4)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: sightfulinvest.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 Sightful Invest. All Rights Reserved.