Nvidia's Record Buyback Fails to Prevent Nasdaq Drop Amid Broader Market Decline
On Monday morning, despite Nvidia announcing a $150 billion expansion of its buyback program—the largest in U.S. history—major stock indices fell as investors reacted negatively to geopolitical tensions and rising interest rates. The Nasdaq Composite dropped nearly 1%, the S&P 500 declined by almost 0.8%, and the Dow Jones Industrial Average lost about 0.7%. Energy stocks were a rare bright spot, with oil prices climbing after President Trump rejected Iran's peace proposal over the weekend. Semiconductor companies broadly underperformed on concerns of higher Federal Reserve rates due to geopolitical instability. SK Hynix, AMD, Qualcomm, and Micron all saw significant declines in their stock values. Meanwhile, rising 10-year Treasury yields pushed gold prices down as investors shifted toward high-yielding assets. The market is also bracing for a heavy week ahead with key economic data releases expected to influence rate expectations.
Tickers: $AMD $MU $NVDA $QCOM $SKHYV $USO
Topics: Nvidia oil prices semiconductors stock market Trump-Iran tensions