Nvidia weighed down the US stock exchange

» Published: December 09 2024

Nvidia weighed down the US stock exchange
Photo: Heather Khalifa/AP-TT

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The stock exchange in New York fell on Monday, weighed down by a decline for chip giant Nvidia.

Nvidia's share fell 2.5 percent after it emerged that the company is being investigated in China for violating the country's antimonopoly law. The company, one of the highest valued on Wall Street, had around 17 percent of its revenue in China last year.

Among the winners was the department store chain Macy's. The company rose 1.8 percent after an investor demanded that the company buy back its own shares worth at least 2 billion dollars within three years. The aim is to drive up the share price.

The broad S&P 500 index and the technology-heavy Nasdaq composite index both fell 0.6 percent. The Dow Jones industrial index fell 0.5 percent.

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By TTEnglish edition by Sweden Herald, adapted for local and international readers

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