Nvidia shares are up 4.8% in pre-market after suffering the biggest one-day market cap loss on record, more than doubling its own previous record. It led to a broader decline among chipmakers and with the weightage of the Mag 7, major indices were dragged lower despite some sectors holding up.
For today, it’ll be interesting to see how quickly panic and fear turns to greed again. If you look back to last year, it really doesn’t take much for the tide to turn around. We’re part of the TikTok generation now. Any bad news that runs through the social media echo chamber can easily be forgotten by the next day. It’s all about moving in five-second steps and chasing the next story.
