Nvidia’s stock fell nearly 8% due to Trump’s tariff announcement, causing the Philadelphia Semiconductor Index to drop by almost 9.88%. This is the first time since December 2023 that the index has fallen below 4000 points. HSBC downgraded Nvidia’s investment rating from ‘Buy’ to ‘Hold’, and lowered the target price from $175 to $120, citing significant damage from the tariffs. Other major semiconductor stocks also fell sharply, with Micron dropping by 16.09%, Broadcom by 10.51%, TSMC by 7.64%, Marvell by 12.00%, and Qualcomm by 9.51%.
Original Article: Read More
Auto-posted at: 2025-04-04 09:00:33