Global semiconductor and associated stocks fell on Wednesday, following a steep plunge in Nvidia\u2019s share price in the U.S. overnight.<\/p>\n
In the U.S., chipmaker\u00a0Nvidia\u00a0plunged more than 9% in regular trading, leading semiconductor stocks lower amid a\u00a0sell-off on Wall Street. Economic data published Tuesday resurfaced jitters about the health of the U.S. economy. Nvidia shares continued sliding in post-market trading Tuesday, falling 2%, after\u00a0Bloomberg reported\u00a0that the company\u00a0received a subpoena\u00a0from the Department of Justice as part of an antitrust investigation.<\/p>\n
Around $279 billion of value was wiped off of Nvidia on Tuesday, in the biggest one-day market capitalization drop for a U.S. stock in history. The previous record was held by Facebook-parent Meta, which suffered a $232 billion fall in value in a day in February 2022.<\/p>\n
Nvidia\u2019s value chain extends to South Korea, namely, memory chip maker SK Hynix and conglomerate Samsung Electronics.<\/p>\n
Samsung shares closed 3.45% lower, while SK Hynix,\u00a0which provides high bandwidth memory chips to Nvidia, slid 8%.<\/p>\n
Tokyo Electron\u00a0dropped 8.5%, while semiconductor testing equipment supplier\u00a0Advantest\u00a0shed nearly 8%.<\/p>\n
Japanese investment holding company\u00a0SoftBank Group, which owns a stake in chip designer\u00a0Arm, fell 7.7%.<\/p>\n
Contract chip manufacturer\u00a0Taiwan Semiconductor Manufacturing Company\u00a0declined more than 5%. TSMC manufactures Nvidia\u2019s high-performance graphics processing units which power large language models \u2014 machine learning programs that can recognize and generate text.<\/p>\n
Taiwan\u2019s\u00a0Hon Hai Precision Industry\u00a0\u2014 known internationally as Foxconn \u2014 lost nearly 3%. It has a strategic partnership with Nvidia.<\/p>\n
The selling in Asia filtered through to European semiconductor stocks. Shares of\u00a0ASML, which makes critical equipment to manufacture advanced chips, fell 5% in early trade. Other European names such as\u00a0ASMI,\u00a0Be Semiconductor\u00a0and\u00a0Infineon, were all lower.<\/p>\n<\/p>\n
Global semiconductor and associated stocks fell on Wednesday, following a steep plunge in Nvidia\u2019s share price in the U.S. overnight. In the U.S., chipmaker\u00a0Nvidia\u00a0plunged more than 9% in regular trading, leading semiconductor stocks lower amid a\u00a0sell-off on Wall Street. Economic data published Tuesday resurfaced jitters about the health of the U.S. economy. Nvidia shares continued […]<\/p>\n","protected":false},"author":0,"featured_media":8992,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-8991","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"_links":{"self":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts\/8991","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/comments?post=8991"}],"version-history":[{"count":0,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts\/8991\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/media\/8992"}],"wp:attachment":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/media?parent=8991"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/categories?post=8991"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/tags?post=8991"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}