Chip stocks' slide nears $5 trillion as Nvidia hits most extreme selling level since 2019
FROM THE WIRE · FINANCE.YAHOO.COM
It took five minutes for Tuesday's hot inflation report to knock stocks lower, and chip stocks struggled to hold an early rebound. Nvidia (NVDA) hasn't been sold this hard, this fast since 2019, but the typical S&P 500 stock is barely down. The S&P 500 (^GSPC) was down nearly 1%…
Read at the source ↗MARKET IMPACTHIGH✦ News Impact agent estimateTone: expected bearishA drop in Nvidia, a mega-cap, and in the semiconductor sector after a hot inflation print weighs on markets.AI-generated summary
✦ IN BRIEF · AIAI-generated summary
- 01Nvidia fell about 6% and is on track for its lowest close since March 30.
- 02The S&P 500 was down nearly 1% midday Tuesday.
- 03The PHLX Semiconductor Index fell more than 1%.
- 04Nvidia's RSI sank to 23, its most oversold reading since June 2019.
NEWS IMPACT AND MARKET REACTIONChange since the story · reference
NVIDIA Corporation167.63 USD-0.44%today -6.18%Negative Advanced Micro Devices, Inc.512.21 USD-0.13%today +0.71%Negative Broadcom Inc.330.16 USD+0.02%today +3.34%Negative PHLX Semiconductor Index9,906.71-0.17%today -1.27%Negative S&P 5007,504.93-0.02%today -0.60%Negative NASDAQ 10027,608.42-0.05%today -1.07%Negative
Impact and summary are estimates by the News Impact AI agent, not financial advice.Open in Markets