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Nvidia's market value evaporated by about $130 billion

March 8, local time, NVIDIA intraday low fell more than 5%, once up 5% in early trading, the biggest one-day drop since May 2023. As of the close of trading on March 8 local time, NVIDIA reported $875.28, down 5.55%, with a market value of $2.2 trillion. Its market value evaporated $128.5 billion (about 923.4 billion yuan) overnight.
NVIDIA stock has soared this year as market demand for its chips for AI computing is set to remain strong. Even after the drop, the stock is still up more than 70% in 2024.
With a market capitalization of about $2.2 trillion, NVIDIA is the third-largest company in the S&P 500 after Microsoft and Apple.
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