Nvidia, Chip Stocks Drop Into Correction As Rate Bets Shift

Bloomberg

Lean Left

Mixed Factuality

Individual: Michael Bloomberg

Private Equity: The Vanguard Group

Nvidia, Chip Stocks Drop Into Correction As Rate Bets Shift

(Bloomberg) -- A gauge of global chip stocks and AI bellwether Nvidia Corp. have fallen together into a technical correction, showing moderation in the global equity market’s most conspicuous driver over the past year and a half.The Philadelphia Semiconductor Index and Nvidia dropped more than 3% each Wednesday, pushing them down more than 10% from record high levels reached in March. In addition to concerns of the rallies becoming overheated, t…