Nvidia Plunges Below $800, Enters Bear Market with 10% Drop

Nvidia Corporation experienced a significant downturn in its stock value, closing down 10% on April 19, 2024, marking its largest single-day drop since March 2020. The decline in Nvidia's stock, which fell below $800 for the first time since March 1, contributed to a loss of approximately $213 billion in market capitalization. This drop is part of a broader selloff in the technology sector, influenced by disappointing results from ASML earlier in the week and a downturn in shares of Supermicro, which utilizes Nvidia GPUs. Nvidia's stock has now decreased by 20% from its all-time high seen on March 8, officially entering bear market territory. Additionally, Super Micro Computer's stock is down 40% from its recent high.