Nvidia $279 billion market cap wipeout — the biggest in U.S. history for just ONE company
On Tuesday 3rd September 2024, around $279 billion of value was wiped off of Nvidia. That was the biggest one-day market capitalisation drop for a U.S. stock in HISTORY!
Nvidia one-day chart closed 108 on 3rd September 2024
Nvidia shares continued sliding in post-market trading Tuesday, falling 2%, after Bloomberg reported that the company received a subpoena from the Department of Justice as part of an antitrust investigation.
Global semiconductor stocks and related sectors subsequently experienced a decline on Wednesday 4th September 2024, after Nvidia’s share price in the U.S. saw a significant plunge overnight.
Update: in a subsequent statement Nvidia reportedly said it didn’t receive antitrust subpoena from DOJ. This according to a report on CNBC.