• About
  • Advertise
  • Careers
  • Contact Us
Monday, June 30, 2025
  • Login
No Result
View All Result
NEWSLETTER
Tech | Business | Economy
  • News
  • Tech
    • DisruptiveTECH
    • ConsumerTech
    • How To
    • TechTAINMENT
  • Business
    • Telecoms
    • Mobility
    • Environment
    • Travel
    • StartUPs
      • Chidiverse
    • TE Insights
    • Security
  • Partners
  • Economy
    • Finance
    • Fintech
    • Digital Assets
    • Personal Finance
    • Insurance
  • Features
    • IndustryINFLUENCERS
    • Guest Writer
    • EventDIARY
    • Editorial
    • Appointment
  • TECHECONOMY TV
  • Apply
  • TBS
  • BusinesSENSE For SMEs
  • Chidiverse
  • News
  • Tech
    • DisruptiveTECH
    • ConsumerTech
    • How To
    • TechTAINMENT
  • Business
    • Telecoms
    • Mobility
    • Environment
    • Travel
    • StartUPs
      • Chidiverse
    • TE Insights
    • Security
  • Partners
  • Economy
    • Finance
    • Fintech
    • Digital Assets
    • Personal Finance
    • Insurance
  • Features
    • IndustryINFLUENCERS
    • Guest Writer
    • EventDIARY
    • Editorial
    • Appointment
  • TECHECONOMY TV
  • Apply
  • TBS
  • BusinesSENSE For SMEs
  • Chidiverse
No Result
View All Result
Tech | Business | Economy
No Result
View All Result
Home DisruptiveTECH

Nvidia Loses $279 Billion in Market Value as Global Recession Fears Trigger Stock Sell-Off

by Joan Aimuengheuwa
September 4, 2024
in DisruptiveTECH
0
Nvidia Loses $279 Billion in Market Value as Global Recession Fears Trigger Stock Sell-Off
Nvidia

Nvidia

UBA
Advertisements

Nvidia, the American semiconductor giant, has seen its shares drop by nearly 10% as global markets, particularly in Asia and the US, face economic downturns. 

This decline is attributed to growing worries about a possible recession in the United States, which has caused a ripple effect across global financial markets.

Investors are increasingly anxious about the health of the US economy, particularly in light of recent data showing continued sluggishness in manufacturing activity. 

This unease was further worsened by the US government’s decision to issue subpoenas to Nvidia and several other technology companies as part of an ongoing investigation into artificial intelligence (AI) practices. 

The market reaction was swift, with Nvidia’s stock losing 9.5% of its value, equating to a $279 billion (£212.9 billion) being wiped off its market capitalisation.

The broader tech sector also took a hit, with shares of major US technology firms such as Alphabet, Apple, and Microsoft experiencing sharp declines. 

On Tuesday, the Nasdaq index, which is heavily weighted towards technology companies, fell by over 3%, while the S&P 500 dropped by more than 2%. The slump in Nvidia’s stock is seen as a key driver of these losses.

The impact of this downturn was not limited to the United States. Asian markets opened on Wednesday with significant losses, led by Japan’s Nikkei 225, which fell by 4.4%. 

South Korea’s Kospi and Hong Kong’s Hang Seng Index also saw substantial drops of 3% and 1.3%, respectively. Major technology firms in the region, including Taiwan’s TSMC and South Korea’s SK Hynix, mirrored Nvidia’s losses, reflecting widespread investor concern.

The upcoming US non-farm payrolls report, due on Friday, is now a focal point for investors, who are looking for indicators of how the Federal Reserve might adjust interest rates in response to economic conditions. 

Market sentiment suggests that there is growing scepticism about the likelihood of rate cuts, further fuelling the downward trend in stock prices.

Swetha Ramachandran, a fund manager at Artemis Investment Management in London, noted that Nvidia’s sharp decline could also be tied to the US Department of Justice’s demands for the company to provide evidence related to antitrust issues. 

She suggested that this, combined with the firm’s own forecasted slowdown in growth—from 122% in the second quarter to an expected 80% in the third—has contributed to a realignment of investor expectations.

Meanwhile, oil prices have also been affected by the global economic slowdown. Brent crude fell to $73.14 per barrel, and US crude dropped to $69.72, both reaching their lowest levels since December. 

This decline reveals reduced demand expectations amid fears of a broader economic downturn, particularly in China, which remains the world’s largest oil importer.

The current market situation points to the fragility of the global economic outlook, with technology stocks like Nvidia bearing the brunt of investor apprehension. 

Loading

Advertisements
MTN ADS

0Shares
Tags: Asian marketeconomic downturnsInvestorsNvidiaNvidia Market ValueNvidia StockStock Sell-OffU.S. MarketUS economy
Joan Aimuengheuwa

Joan Aimuengheuwa

Joan thrives at helping individuals and businesses scale via storytelling...

Next Post
NiRA .NG Domain Reseller programme

NiRA and the Path to Nigeria's Digital Transformation 

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Recommended

Wellness HMO Launches New App with Pocket-Friendly Healthcare Options

3 years ago
Abbey Mortgage Bank Building

Abbey Mortgage Bank Retains BBB- Rating

2 years ago

Popular News

    Connect with us

    • About
    • Advertise
    • Careers
    • Contact Us

    © 2025 TECHECONOMY.

    No Result
    View All Result
    • News
    • Tech
      • DisruptiveTECH
      • ConsumerTech
      • How To
      • TechTAINMENT
    • Business
      • Telecoms
      • Mobility
      • Environment
      • Travel
      • StartUPs
        • Chidiverse
      • TE Insights
      • Security
    • Partners
    • Economy
      • Finance
      • Fintech
      • Digital Assets
      • Personal Finance
      • Insurance
    • Features
      • IndustryINFLUENCERS
      • Guest Writer
      • EventDIARY
      • Editorial
      • Appointment
    • TECHECONOMY TV
    • Apply
    • TBS
    • BusinesSENSE For SMEs

    © 2025 TECHECONOMY.

    Welcome Back!

    Login to your account below

    Forgotten Password?

    Retrieve your password

    Please enter your username or email address to reset your password.

    Log In
    Translate »
    This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.