Nvidia Stock Plunges Amidst New Tariffs and Export Restriction Concerns
Key Points:
* Nvidia (NVDA) stock declined 5% in early trading on Monday, continuing the previous week's downward trend.
* US President Donald Trump imposed new tariffs of 10% on imports from China and 25% on those from Mexico and Canada, surprising investors who had underestimated the risk.
* Nvidia's stock was already impacted by news that the Trump administration was considering tightening export rules on Nvidia chips to China.
* The new tariffs and export restriction concerns may affect imports of data processing equipment and indirectly impact chip sales.
* Other chip stocks, such as Advanced Micro Devices (AMD), Qualcomm (QCOM), Micron (MU), and Broadcom (AVGO), also experienced declines.
* Nvidia CEO Jensen Huang met with Trump at the White House to discuss DeepSeek, a new AI model that has raised concerns about Big Tech's spending on AI infrastructure.