Nvidia down 30% from high as tech-led sell-off hits Magnificent Seven
Summary
Nvidia CEO Jensen Huang gives a keynote address at CES 2025, an annual consumer electronics trade show, in Las Vegas, Nevada, U.S. Jan. 6, 2025. The leading chipmaker slumped about 5% on Monday, building on last weeks losses as heavy selling continued across the tech sector. The popular artificial intelligence stock has shed about a fifth of its market cap since President Donald Trumps inauguration. Tariff fears and growth concerns have rocked technology stocks, including Nvidia, over the last week, with the tech-heavy Nasdaq Composite dropping more than 4%. The Elon Musk-backed electric vehicle company has plunged 16% over the last week and shed nearly 44% since Trump took office in January.
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