Nvidia’s share price plunged by 10 per cent on Friday, helping to seal the worst run for US stock markets since October 2022, as investors shunned risky assets ahead of a flurry of Big Tech earnings next week.
The chipmaker endured its worst session since March 2020, losing more than $200bn of its market value on the day. The decline accounted for roughly half of the 0.9 per cent fall in Wall Street’s S&P 500, according to Bloomberg data.
Netflix, meanwhile, shed about 9 per cent a day after the streaming service’s announcement that it would stop regularly disclosing its subscriber numbers overshadowed stronger than expected earnings. The tech-heavy Nasdaq Composite ended the session down 2.1 per cent.
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