Global Updates - Chip stocks get hit as Nvidia tumbles; oil climbs

Chip stocks get hit as Nvidia tumbles; oil climbs While 330 shares in the S&P 500 rose, the benchmark fell. The Nasdaq 100 lost 1.5% Nvidia was almost down by 5% yesterday A rout in chipmakers weighed on stocks as Nvidia Corp.’s results failed to inspire investors seeking reassurances about the artificial-intelligence outlook. Oil climbed as Iran said nuclear talks with the US were intense, spurring a flight to the perceived safety of bonds. While 330 shares in the S&P 500 rose, the benchmark fell. The Nasdaq 100 lost 1.5%. Even after giving a bullish forecast, Nvidia sank 5%, dragging down almost every company in a closely watched semiconductor gauge. Salesforce Inc. gave a strong outlook for long-term sales and announced a large share buyback, helping assuage some fears about AI disruption of the software industry. IT stocks will be on radar again now. Stock to watch out

Hence, we may see a bit negative opening here in Nifty. All this is for information. This is not a buy/sell recommendation. Sunil Kotak (Founder of SHUBH CONSULTANCY - SEBI Registered Research Analyst| INH000015826) Disclaimer: Investments are subject to market risk please read relevant documents before investing. Past performance will not guarantee the future results. My self/may associates do not own any stock recommended here. Me/My associates/My relatives do not have any conflict of Interest in the recommended stock. Me/My associates/My relatives have not received any compensation from the Company in last 12 months. Me/My associates/My relatives do not have holding above 1% in the stock recommended. This is for Intended Recipient only. Advisable to assume that we have recommended this one to our clients.