(Bloomberg) -- Nvidia Corp.’s plunge, fueled by investor concern about
Chinese artificial-intelligence startup DeepSeek, erased a record amount
of stock-market value from the world’s largest company.
Nvidia shares tumbled 17% Monday, the biggest drop since March 2020, erasing $589 billion from the company’s market capitalization. That eclipsed the previous record — a 9% drop in September that wiped out about $279 billion in value — and was the biggest in US stock-market history.
The drop rippled through the rest of the market due to how much weight Nvidia has in major indexes. Including Monday’s slump, Nvidia selloffs have caused eight of the top ten biggest one-day drops in the S&P 500 Index, based on market value, according to data compiled by Bloomberg. The S&P 500 fell 1.5% Monday and the Nasdaq 100 tumbled nearly 3%....
...moreThe drop rippled through the rest of the market due to how much weight Nvidia has in major indexes. Including Monday’s slump, Nvidia selloffs have caused eight of the top ten biggest one-day drops in the S&P 500 Index, based on market value, according to data compiled by Bloomberg. The S&P 500 fell 1.5% Monday and the Nasdaq 100 tumbled nearly 3%....
Ken Notes: 600 BILLION dollars will probably trip you spam filters because until yesterday that was an amount of money no company has ever lost. In fact until recently no company was ever even worth that much...
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- - Volume: 25 - WEEK: 5 Date: 1/28/2025 10:02:59 AM -