Stock Market Decline and Tech Stock Volatility
The stock market experienced a decline, with tech shares being the leading decliners. The Nasdaq Composite suffered its largest one-day percentage decline since September 13, 2022. Nvidia, the leading maker of artificial-intelligence chips, saw a significant decline in its stock price, marking its worst start to a year since 2022. Oracle reported earnings and revenue that missed estimates but signed cloud agreements with major tech companies. Apple also experienced a drop in its stock price. Delta Air Lines and other airlines cut their outlooks due to reduced consumer and corporate confidence. Tesla lost 15% of its market value, its worst day of trading since 2020. Other companies, such as Dick's Sporting Goods, Kohl's, and Illumina, also made significant announcements. Volkswagen, on the other hand, saw a rise in its stock price.