24, Mar, 2019
Nvidia tanked 14% after the chipmaker cut guidance, citing ‘deteriorating’ economic conditions in China

Nvidia

Shares of Nvidia tanked as much as 17 percent Monday after the company lowered its revenue guidance for the fiscal fourth quarter citing “deteriorating macroeconomic conditions, particularly in China.” The stock pared some losses by midday and ended trading 14 percent down. The drop trimmed more than $13 billion off […]

The number of companies warning of a slowdown in China is growing, with both construction machinery company Caterpillar and chipmaker Nvidia blaming weaker demand in the country for disappointing figures, a bad omen for the global economy. “Sales in Asia/Pacific declined due to lower demand in China, partially offset by […]