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Nvidia Plummets ~9%; Mkt Cap Wipes off US$265B in Single Day
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U.S. President Donald Trump confirmed that tariffs on Canada and Mexico will be in force on Tuesday, triggering a sharp late sell-off in U.S. stocks. Nvidia (NVDA.US) took a severe hit, plunging as much as 10% to bottom at US$112.28 on Monday before closing down 8.7%. The single-day slide wiped US$265 billion off its market value, bringing its total market cap to US$2.79 trillion. While Nvidia reportedly produces most of its chips in Taiwan, some of its complex systems and entire computers surrounding the chips are manufactured in other regions, including Mexico and the U.S. Additionally, Nvidia faces heightened scrutiny over its exports to Singapore, with some analysts suggesting it may be a conduit for shipping chips to China in circumvention of U.S. export controls. AAStocks Financial News |
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