Nvidia's market cap plummets by a record $279 billion in a day
American technology company Nvidia lost $278.9 billion in a day.
This is a record daily drop in capitalization. The company's shares fell by 9.5% in one day.
TASS reports this, citing NASDAQ data.
Why Nvidia Shares Fell
Following yesterday's session, the company's quotes fell to $108 per share (by 9.52%).
The company's total value fell from $2.92 trillion to $2.64 trillion.
This is an anti-record for the decline in capitalization in the entire history of trading on American stock exchanges.
Since August 28, Nvidia shares have fallen 14%, falling from $125.61 per share.
Bloomberg links the decline in Nvidia's capitalization to growing investor distrust of the overheated market of companies engaged in artificial intelligence.
Bloomberg reported earlier that the US Department of Justice had issued subpoenas to Nvidia and several other companies as part of an antitrust investigation.
According to the agency's sources, U.S. antitrust authorities are concerned that Nvidia is imposing sanctions on buyers who buy chips from other companies and is trying to make it difficult for customers to switch suppliers.
