Nvidia Share Down by 11.77%, $279 billion rout in market value.
Nvidia's shares have dropped by 14% over the past three trading sessions after it reported earnings that fell short of high expectations. The stock price of Nvidia almost tripled in 2024, reaching a record high close in July. However, the recent decline has left the stock up 118% year to date (YTD).
Nvidia's stock price fell nearly 10% on Tuesday, marking the largest single-day decline in market value for a US company. Investors' optimism about artificial intelligence appears to be waning.
The AI leader, Nvidia, saw its shares tumble by 9.5% to $108 each on Tuesday, resulting in a $279 billion loss in market capitalization, according to Reuters. This was the largest single-day fall in market value for a US company, indicating that investors are exercising more caution regarding emerging AI technology, which has been a major driver of this year's stock market gains.
