News Snapshot:
Nvidia’s stock plummeted 11%, on track for its biggest one-day percentage drop since 2020, while smaller rival AMD’s stock fell almost 6%. As of mid-day, about $40 billion worth of Nvidia’s stock market value had evaporated. The 30 companies making up the Philadelphia semiconductor index lost a combined about $100 billion worth of stock market value. Traders exchanged over $11 billion worth of Nvidia shares, more than any other stock on Wall Street. The restricted exports to China of two of Nvidia’s top computing chips for artificial intelligence – the H100 and A100 – could impact $400 million in potential...
