Nvidia, Chip Stocks Drop Into Correction as Rate Bets Shift
- Philadelphia chip gauge, Nvidia down more than 10% from peaks
- TSMC may boost sentiment with first profit increase in a year
This article is for subscribers only.
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.