Wall Street: Nvidia shares in the red – US stock markets are recovering

The new revelations about Nvidia boss Jensen Huang and his departure are costing the chip manufacturer's shareholders billions. But the losses are lower than in the previous week.

Street sign on Wall Street. Photo: dpa

Dusseldorf. After strong profits the day before, new reports about Nvidia boss Jensen Huang's affairs and his departure from the CEO post are dragging down the share price of the world's second most valuable company - and with it numerous other chip values. What had already been indicated after the trading session is now evident in regular trading: Nvidia shares fell by up to 13 percent on Thursday, but recovered slightly and are around five percent lower. The major indices are slowly recovering after being in the red at the start of the stock market.

The Dow Jones index of standard stocks gained 0.5 percent to 52,720 points. Because the 30 stocks are not directly affected by the tech sell-off, the index reacts less strongly.

The broader S&P 500 gained 0.4 percent to 7,650 percent.

The index of the Nasdaq technology exchange rose 0.5 percent and stood at 25,592 points.

The Nasdaq 100, which tracks the 100 largest non-financial companies with the highest market capitalization, also gained 0.5 percent and reached 28,113 points.

While the decline in some chip stocks is also significant, other companies are gaining in value. Micron, for example, is losing 2.5, but Broadcom and AMD are now both up around 5 percent.

The loss is particularly significant for the data center operators Coreweave and Nebius, which fell by 5 and 15 percent. Investors apparently fear that the problems at Nvidia could impact customers and their pace of growth.

Both titles have been subject to extreme price fluctuations in recent months and have lost significant value. Nebius also reported weak quarterly figures from Thursday.