Stocks recover after Nvidia scandal roils tech sector
Stock markets recovered on Friday as traders looked past the shock downfall of Nvidia’s chief Jensen Huang, though shares in the AI chip behemoth continued their descent. The latest inflation reading in the United States also helped investors turn their attention to the prospect of further interest rate hikes in the world’s biggest economy. “After [...] The post Stocks recover after Nvidia…
Stock markets recovered on Friday as traders focused on the US inflation situation, despite the scandal surrounding Nvidia's chief, Jensen Huang. Microsoft also faced struggles with an Outlook email app issue, causing a 1.5 percent decline in its shares. Wall Street's main indices opened higher after inflation data showed a largely expected Producer Price Index increase.
However, analysts remain concerned about wholesale inflation and the impact of energy costs due to the ongoing US-Iran conflict. Nvidia's shares dropped 2.7 percent as Huang resigned amid extramarital affair allegations.
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