NVIDIA faced a record-breaking single-day drop in market capitalization, losing 9.5% and erasing $278 billion on Tuesday.
Photo by Christian Wiediger on Unsplash
NVIDIA experienced the largest single-day market value drop in history, closing down 9.5% on Tuesday, September 3, and wiping out $278 billion in market capitalization.
This surpasses the previous record set in February 2022 when Meta lost $251 billion. Since announcing its earnings last Wednesday, NVIDIA's stock has fallen 14%, with a total decline of 18% over the past week.
US inflation fell to 2.9% in July 2024, its lowest since March 2021, driven by slower increases in shelter, transportation, and apparel costs. Core inflation also eased to 3.2%, with shelter contributing significantly to the monthly CPI rise.
U.S. crude oil production has hit a record 13.4 million barrels per day, solidifying America's position as the world's top oil producer, outpacing Russia and Saudi Arabia.
Turkey's unemployment rate increased to 9.2% in June 2024, the highest level since August 2023. The rise was accompanied by a drop in employment and a higher jobless rate among youths aged 15 to 24.
