Tech’s Sea of Red

Just what we needed: a stock market chill to remind us that summer is over. Investors on Wall Street were dumping stocks left, right and center on Tuesday, after anemic manufacturing data reminded people of economic uncertainties they had put out of their minds. Tech stocks were a sea of red, from the smallest to the biggest companies. 

But the size of the price drop varied a lot. While most big tech stocks dropped in the 2% to 4% range, Nvidia’s share price plunged nearly 10% to $108. (And it fell further in after-hours trading!) In the past couple of months, this stock has been on a roller-coaster ride that would make anyone queasy. Suffice to say that after hitting a high of $135 in mid-June, when its market capitalization of $3.3 trillion was above that of Apple and Microsoft for a bright and shining moment, Nvidia has since been bobbing up and down below that level.