Nvidia shares dropped by the most since April, sending the semiconductor group’s stock and the Nasdaq Composite to their lowest levels in about two months.
The tech-focused Nasdaq closed 1.3 per cent lower on Tuesday, while the broader S&P 500 dropped 0.5 per cent.
Nvidia, a heavyweight stock in each of the indices, closed 7 per cent lower. The company is the dominant producer of the chips needed to power artificial intelligence systems, but investors have fretted that earnings expectations for groups in that sector are too lofty.
Other Big Tech stocks had a mixed performance during the regular trading session, with Apple and Alphabet advancing, but Amazon, Microsoft and Meta slipping.
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