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The post-earnings slide in Nvidia (NVDA) continues. Shares of the AI chip darling plunged 9% in Tuesday’s trading session as fears about slowing US economic growth resurfaced. The company shed $279 billion in market cap, the biggest one-day market cap drop for a US stock in history. The stock looks to be poised for another weak trading session on Wednesday as well.
But this could just be the beginning of Nvidia’s troubles, as the Department of Justice has subpoenaed the chip giant in an antitrust probe, according to a report from Bloomberg. While certainly a concern for investors, Nvidia’s growth continues to be driven by heated AI chip demand.
Yahoo Finance Executive Editor Brian Sozzi breaks down what you need to know for Wednesday’s trading session.
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