Nvidia drops more than 8% on Wall Street open amid espionage case involving its boss
The American semiconductor giant lost roughly $300 billion in market value this Monday.
The shares of American semiconductor giant Nvidia fell sharply in early trading on Monday, November 9, on the New York Stock Exchange, weighed down by the alleged espionage affair involving the group's boss, Jensen Huang. When Wall Street opened, Nvidia shares fell up to 8%, or around $300 billion in market valuation gone up in smoke. Around 2:50 p.m. GMT, the stock had only lost around 5%.
Jensen Huang admitted to an extramarital affair and said he was “deeply sorry” in a message to his company. He is now the target of an independent investigation launched by his own board of directors regarding this woman named Alice Huang, no relation to him. The affair is particularly embarrassing a few days before a trip to China by Donald Trump, who said he was following it “very closely”, and at a time when the sector is being shaken up on the stock market.
According to American authorities, Alice Huang was recruited by Chinese spy services because of her proximity to the leader of the group specializing in semiconductors. But Beijing categorically denies this. “The story of a so-called Chinese spy is baseless defamation and slander,” Chinese Foreign Ministry spokesperson Guo Jiakun said Monday.
Machine-translated from French
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- Le Figaro9 Nov, 16:21Nvidia drops more than 8% on Wall Street open amid espionage case involving its boss ↗Figures: 300 milliards
| Publisher Le Figaro (established tier) | +76 |
| Checkable figures cited | +3 |
| Total | 79 |
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