Fall in Shares: Shares of US chip giant Nvidia tumbled nearly 10%
Fall in Shares: Apprehensions over the possibility of a recession in the world’s biggest economy have caused financial markets in the US and Asia to collapse.
Nvidia’s stock fell over 10% as worries about the state of the economy tempered expectations about artificial intelligence’s (AI) rapid advancement.
key Asian indices declined on Wednesday morning, after a strong decline in key New York market indexes.
Investor caution increased after fresh data revealed that US industrial activity is still low. The focus is now on important employment data that is expected on Friday.
Tuesday saw a more than 2% decline in the S&P 500 index and a more than 3% decline in the technology-heavy Nasdaq in New York.
On Wednesday, the Hong Kong Hang Seng fell 1.5%, the South Korean Kospi was down 2%, and the Japanese Nikkei 225 was down almost 3%.
Significant Asian technological companies had a significant decline, including Tokyo Electron, SK Hynix, and Samsung Electronics.
