Asian chip stocks fall after Nvidia sell-off on Wall Street overnight

Published On Sep 3, 2024, 9:39 PM

Nvidia experienced a staggering one-day loss of approximately $279 billion in market capitalization, the largest in U.S. history. This drastic decline followed reports that the company is under investigation by the Department of Justice for antitrust issues. Consequently, shares of Nvidia have fallen by over 9% during regular trading and continued to drop in after-hours trading. This sell-off has led to a wider impact on global semiconductor stocks, with significant declines also observed in companies that are part of Nvidia's supply chain, like SK Hynix and Samsung.

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Stock Forecasts

NVDAView NVDA chart on TradingView

Negative

The significant drop in Nvidia's stock value signals potential ongoing volatility in the semiconductor sector, likely driven by both the company's troubles and broader economic uncertainties. Investors may be cautious due to the antitrust investigation, which could hinder Nvidia's operations and profitability in the future.

ASMLView ASML chart on TradingView

Negative

With the European semiconductor market also reacting negatively, companies like ASML and TSMC are likely to face similar downward pressure as investor sentiment remains shaky regarding the sector's outlook following Nvidia's losses.

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