QUICK SPARK: 10 US Tech Stocks Wipe Out $1.7 Trillion on Thursday

Ten of America's largest technology companies lost more market value in a single morning than most countries produce in a year.

By late morning Thursday, the group had shed about $1.74 trillion combined.

NVIDIA Corp. (NASDAQ:NVDA)/a> led the decline, falling 8.5% and erasing roughly $408 billion. Micron Technology Inc. (NASDAQ:MU)/a> and Advanced Micro Devices Inc. (NASDAQ:AMD)/a> each tumbled nearly 16%, while Tesla Inc. (NASDAQ:TSLA)/a> and Space Exploration Technologies Corp. (NASDAQ:SPCX)/a> dropped about 11%. The Nasdaq 100 slid 5.4%.

The sell-off extends a post-midterm rotation out of artificial-intelligence stocks, as investors weigh whether the Democratic sweep could slow data center expansion. China's delay in approving imports of Nvidia's H200 chips added pressure.

The VanEck Semiconductor ETF (NASDAQ:SMH)/a> sank 10.4%./p> figure class="wp-block-table is-style-stripes">table style="overflow:auto; height: 90px; display: block;">thead>tr>th>Company/th>th>Price/th>th>Change/th>th>Market value lost/th>th>Market cap/th>/tr>/thead>tbody>tr>td>Nvidia Corp. /td>td>$183.19/td>td>-8.5%/td>td>$408.1 billion/td>td>$4.41 trillion/td>/tr>tr>td>Space Exploration Technologies Corp. (SpaceX)/td>td>$121.03/td>td>-11%/td>td>$202.2 billion/td>td>$1.64 trillion/td>/tr>tr>td>Tesla Inc. /td>td>$341.42/td>td>-11.4%/td>td>$173 billion/td>td>$1.35 trillion/td>/tr>tr>td>Microsoft Corp. (NASDAQ:MSFT)/a>/td>td>$532.88/td>td>-4.1%/td>td>$170.2 billion/td>td>$3.96 trillion/td>/tr>tr>td>Broadcom Inc. (NASDAQ:AVGO)/a>/td>td>$295.23/td>td>-9.3%/td>td>$144.4 billion/td>td>$1.41 trillion/td>/tr>tr>td>Micron Technology Inc. /td>td>$670.25/td>td>-15.7%/td>td>$141.4 billion/td>td>$758 billion/td>/tr>tr>td>Amazon.com Inc. (NASDAQ:AMZN)/a>/td>td>$253.09/td>td>-4.9%/td>td>$140 billion/td>td>$2.74 trillion/td>/tr>tr>td>Alphabet Inc. (NASDAQ:GOOGL)/a>/td>td>$278.35/td>td>-3.7%/td>td>$129 billion/td>td>$3.39 trillion/td>/tr>tr>td>Advanced Micro Devices Inc. /td>td>$410.77/td>td>-16%/td>td>$127.3 billion/td>td>$671 billion/td>/tr>tr>td>Meta Platforms Inc. (NASDAQ:META)/a>/td>td>$590.05/td>td>-6.3%/td>td>$102.1 billion/td>td>$1.51 trillion/td>/tr>tr>td>Total/td>td>/td>td>/td>td>$1.74 trillion/td>td>/td>/tr>/tbody>/table>figcaption class="wp-element-caption">Updated by 10:55 a.m. ET. Source: TradingView/figcaption>

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