Shares of Nvidia and other Big Tech stocks have helped power the markets run to record highs this year. Whether the steep fall is due to investors becoming ...
NEW YORK - Shares of Nvidia and other Big Tech stocks have helped power the markets run to record highs this year. Their recent wobble is making investors nervous.
Further losses in their shares would likely hurt those indexes, which hit record highs in July, unless stocks in other sectors of the market pick up the slack. Index funds that track the S&P 500, Nasdaq 100 and other benchmarks also stand to suffer if Nvidia slides, because of the stock's increasingly heavy weighting in these indexes. The chipmaker has even more sway in more narrow indexes and exchange traded funds that focus on technology and semiconductor shares.Even with its recent slide, Nvidia shares have more than doubled in 2024, as of Tuesday's close, and the stock remains the best year-to-date performer in the S&P 500.
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