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AMD Sinks 10.5% as Chip Rally Unwinds, Nasdaq 100 Falls 1.7%: Stock Market Today
Wall Street fell Friday as traders unwound this week’s rush out of Nvidia Corp. (NASDAQ:NVDA) and into rival chipmakers, sending Advanced Micro Devices Inc. (NASDAQ:AMD) down 10.5% and wiping out about $100 billion of its market value by midday . Stocks opened higher after a cooler-than-expected wholesale inflation report, then reversed as the scandal around Jensen Huang ‘s exit from Nvidia deepened. A new report said 22 servers built by Dell Technologies Inc. (NYSE:DELL) and packed with restricted Nvidia H800 chips were sold to Singapore-based Aperia Cloud Services , then installed at a Shang
Latest closeNasdaq Comp. 25,366.09 ▼0.4%
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