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Global Market Turmoil: Nasdaq Drops 1.1% in Big Tech Sell-Off

A One-Day Decline: Nasdaq’s Biggest Since April 30

The Nasdaq Composite saw its largest one-day drop in nearly two months, as Nvidia led the decline among several Big Tech names and partially countered gains for the broader US stock market. The tech-heavy index closed Monday at 1.1% lower, with its biggest one-day drop since April 30.

Nvidia Takes the Lead: 6.7% Single-Day Decline

Nvidia’s shares dropped 6.7% on Monday, marking its biggest daily fall since mid-April. The drop in Nvidia’s stock price was significant, as its heavy weighting influences the direction of stock market indices. Other top tech companies, including Amazon and Microsoft, as well as chip groups Broadcom and AMD, closed lower.

Market Insight: S&P 500 Sees 0.3% Decline

The S&P 500 index saw a 0.3% decline on Monday, despite about 70% of its constituents ending the session higher. The energy sector was the best-performing, with a 2.7% increase. On the other hand, technology and consumer cyclicals were the only two groups that experienced losses.

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