Breaking News: ASML Holding and STMicroelectronics Shares Plunge Following Nvidia's Slump
In a surprising turn of events, ASML Holding and STMicroelectronics are among the biggest losers in the European market due to a sharp decline in Nvidia's shares. ASML shares dropped by over 5% in Amsterdam, while STMicro dipped by more than 2.5% in Paris trading.
Nvidia, a US-based peer, experienced a significant 9% drop in its share price on Tuesday, resulting in a loss of approximately $279 billion in market value. This downfall has affected other chip stocks like Advanced Micro Devices, Intel, and Broadcom, leading to major losses across the board.
The negative sentiment was further fueled by weaker-than-expected results from the Institute for Supply Management's US manufacturing activity report, raising concerns about a potential economic slowdown. This news caused the steepest selloff on Wall Street in a month, with European and Asian equities also experiencing weakness.
In conclusion, investors need to stay vigilant and closely monitor the market as these developments can have a significant impact on their portfolios and financial well-being. It is crucial to diversify investments and stay informed about global economic trends to make informed decisions and mitigate risks in these uncertain times.
