Nvidia Shares Plunge Amid Jensen Huang Uncertainty

Shares of Nvidia experienced significant volatility during the U.S. trading session, dropping as much as 14% before recovering to close the day down approximately 4%. The sell-off followed news regarding CEO Jensen Huang, triggering market uncertainty over his role as a talisman for the technology industry and the potential impact on U.S.-China relations, particularly concerning high-technology chip export guardrails.

This corporate volatility coincided with broader market instability driven by the Federal Reserve System. Hawkish commentary from the central bank and high inflation data caused a surge in U.S. Treasury yields. This shift pressured global currencies, pushing the Japanese yen lower and driving the Australian dollar to its weakest level since January.