Nvidia Stock Drops on Report Huawei Is Developing Rival AI Chip
Nvidia shares led losses on the Dow and S&P 500 Monday afternoon following a report China's Huawei Technologies is preparing to test a rival AI chip.
Nvidia shares led losses on the Dow and S&P 500 Monday afternoon following a report China's Huawei Technologies is preparing to test a rival AI chip.
Apple is slated to report fiscal second-quarter results after the market closes Thursday, with investors likely to be watching for clues on how shifting trade policies could impact the iPhone maker.
OSLO (Reuters) -The world economy appears to be fragmenting, posing the biggest risk to markets currently as it brings low growth and higher inflation, the CEO of Norway's $1.8 trillion sovereign wealth fund told Reuters. The fund, which invests the Norwegian state's revenues from oil and gas production, is the largest of its type and one of the world's biggest investors, owning on average 1.5% of all listed stocks and across some 9,000 companies globally. Asked what the biggest risk to financial markets today was, Nicolai Tangen, CEO of the fund's operator Norges Bank Investment Management (NBIM), said it was decoupling, and referred to one of the fund's stress-test scenarios that sees a fragmented world economy.
U.S. equities were down at midday ahead of key tech earnings scheduled for this week.
(Reuters) -Electrical equipment maker Schneider Electric cut its 2025 implied core profit margin outlook on Monday due to market volatility, after its sales missed market expectations in the first quarter. Schneider Electric, which develops AI-related data centre cooling systems, now sees 2025 adjusted earnings before interest, taxes and amortization (EBITA) margin of between 18.7% and 19%, compared to its previous core profit margin expectation of between 19.2% and 19.5%. The statement did not mention the impact of U.S. President Donald Trump's tariffs where a lack of certainty created by their on-again-off-again nature has roiled global markets, destabilised the United States' trading partners and left companies reassessing their operations.
(Bloomberg) -- Stocks in developing nations climbed on Monday, with the benchmark index heading for its highest close in three weeks, amid optimism over trade talks between the US and its partners.Most Read from BloombergNewsom Says California Is Now the World’s Fourth-Biggest EconomyAt Bryn Mawr, a Monumental Plaza Traces the Steps of Black HistoryUS Cricket Deepens Bet on Texas With HQ Shift From CaliforniaLos Angeles Downgraded to AA- by S&P Due to Budget WoesThe Last Thing US Transit Agencie
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MGM Resorts International said BetMGM's Online Sports and iGaming revenue soared in the first quarter.
(Bloomberg) -- Criminals are hijacking online brokerage accounts in Japan and using them to drive up penny stocks around the world. The wave of fraudulent trading has reached ¥100 billion ($710 million) since it started in February and shows no signs of cresting. The scams typically use the hacked accounts to buy thinly traded stocks both domestically and overseas, allowing anyone who has built up a position earlier to cash out at inflated values. In response, some Japanese securities firms have
NEW YORK (Reuters) -The S&P 500 closed a choppy session nearly unchanged on Monday, weighed down by megacaps as investors awaited several catalysts including key economic data and earnings from some of the largest U.S. companies. Megacaps Nvidia , off 2.1%, and Amazon , down 0.7%, were the primary drags on the benchmark S&P 500 index and also kept the Nasdaq in negative territory. The Wall Street Journal reported on Sunday that China's Huawei Technologies was preparing to test its artificial-intelligence processor, which it hopes can replace some of Nvidia's higher-end products.