by Wolf Richter
Wolf Street
Nasdaq Composite dropped 3.3%. If it drops another 6.7%, it’ll be back to November 2021.
Nvidia, the poster boy of the stock-market mania around Ai and semiconductors, plunged 9.5% in regular trading. In afterhours trading, it dropped another 2.6% to $105.40 a share, for a total drop of 11.7%. The afterhours drop came after Bloomberg reported that the DOJ had sent subpoenas to Nvidia, in an escalation of the ongoing antitrust investigation.
“Antitrust officials are concerned that Nvidia is making it harder to switch to other suppliers and penalizes buyers that don’t exclusively use its artificial intelligence chips,” Bloomberg said, citing its sources.