Nvidia Stock Plunges, Sealing Worst US Market Run Since October 2022
Subheading 1: Nvidia's Shares Plummet by 10%, Sealing Market Rout
Nvidia's stock price plummeted by 10% on Friday, contributing to the worst run for US stock markets since October 2022. This decline wiped out a significant portion of the company's market value, which was estimated at approximately $418 billion two years ago.
Subheading 2: A Sharp Reversal from Nvidia's Recent Gains
Nvidia has enjoyed a remarkable surge in its stock value lately, logging six consecutive sessions of gains before Friday's reversal. However, the company's shares fell into correction territory on Friday, defined by a 10% decline from a recent high, reaching a low of around $830.
Subheading 3: Market Darling Loses Luster
Nvidia, once a market darling, has seen its fortunes turn as investors grow concerned about the company's growth prospects. The recent decline erased a collective $950 billion from the market capitalizations of seven major technology companies, including Nvidia, in just one week.
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