Of cracking the uk market. Live from London, This is business today. It This is business today. IS Packed. Im saLLy bundock. This is business today. Lets get going. We start with AL Chip maker nvidia. Its Record Rise to one of the worLds most vaLuabLe companies has wowed WaLL Street. Now, its breaking records again, but not in the way it wanted. On tuesday, nvidia Lost the most Stock Market VaLue in a day of any company in us history aS Part of a steep seLL off that Hit Tech shareS ParticuLarLy hard. Nvidia continued to faLL after hours as bLoomberg reported that it has received subpoenas from the Department Ofjustice, which is investigating whether it has been abusing its dominance of the market for AL Chips. Lets just show you the numbers because they are pretty staggering. ALmost 279 BiLLIon that was the amount wiped off the vaLue of nvidia over the course of the trading day. It adds to Losses Last week after the companys forecasts disappointed investors. Nvidia has been the corners
Seems to be reducing. But there are also concerns about the wider us economy that led to a wider sell off on us markets, as ritika gupta explains. The snp 500 saw its biggest slide since an early august meltdown, ending the session down 2%. This comes after a rally that put the benchmark within a striking distance of its all time highs. Technology stocks, the gauges most influential group, took the brunt of the decline. The nasdaq index closed down by 3%, while the dowjones index slipped by 1. 5%. One of the biggest losers on the day was nvidia, the high flying artificial intelligence darling, which raised more than $240 billion in market value. The chip maker shares closed down over 9%. 0ther semiconductor stocks, including micron, intel and advanced micro devices, fell in sympathy. The market also took a leg lower after manufacturing production data shrank for a fifth month in august. The institute for supply management manufacturing gauge edged up to 47. 2. A reading below 50 indi
August meltdown, ending the session down 2 . This comes after a rally that put the benchmark within a striking distance of its all time highs. Technology stocks, the gauges most influential group, took the brunt of the decline. The Nasdaq Index closed down by 3 , while the Dowjones Index slipped by 1. 5 . One of the biggest losers on the day was nvidia, The High Flying Artificial Intelligence darling, which raised more than 240 Billion in market value. The Chip Maker shares closed down over 9 . 0ther Semiconductor stocks, including micron, intel and advanced micro devices, fell in sympathy. The market also took a leg lower after manufacturing Production Data shrank for a fifth month in august. The institute for Supply Management Manufacturing gauge edged up to 47. 2. A reading below 50 indicates contraction. The data reignited concerns around slowing growth within the us economy, which helped drive a Sell Off early last month. The action comes ahead of us governments augustjobs report,
by the effects of strikes by public sector workers. the office for national statistics said that a rise in construction activity had been offset by walkouts by teachers and civil servants. it follows a surprise 0.4% jump in economic growth injanuary which brings the uk economy, finally, to a point where it is bigger than it was pre pandemic. the value of sterling rose to its highest level since june of last year, with £1 getting you i dollar and twenty five cents. despite february s flatlining the chancellor described the outlook as brighter than expected . let s get more now with victoria scholar, head of investment at interactive investor. investor. investor. the investor. the last investor. the last few investor. the last few minutes investor. the last few minutes we investor. the last few minutes we had investor. the last few minutes we had at the in the last few minutes we had at the elite has production data from the elite has production data from the euro is aime
space. we ll take a look at what security officials are saying about the puzzling phenomenon. plus, the latest from turkey. as rescue crews are pulling fewer and fewer earthquake survivors from the rubble. we ll get a live report in just a few minutes. and we re learning new detils about a classified documents folder that former president trump s legal team just recently turned over to the justice department. good morning. welcome to way too early on this monday, february 13th. thanks for starting your day and week with us. big news, the big game. the kansas city chiefs have won the super bowl, defeating the philadelphia eagles in comeback fashion last night. two-time nfl mvp quarterback, patrick mahomes, led the chiefs to a 38-35 victory and earned his second super bowl mvp and is already illustrious career. we ll have all of the highlights from last night s game. a fun one, not quite a classic. we ll break it all down in way too early. let s begin with the growing