Nvidia Corporation (NASDAQ: NVDA) shares lost about 10% over the final two sessions of the trading week following the U.S. move to restrict chip sales to China.
Electric vehicle stocks fell across the board in the week ended September 2 amid macroeconomic concerns that rocked the market. The August jobs report, the U.S. government’s move to restrict chip exports to China, and the shutting down of the Nord Stream 1 offshore pipeline that supplies oil from Russia to Europe all served to intensify risk aversion in the market.
The major U.S. index futures point to a nervous start on Friday, as investors choose to exercise restraint ahead of the non-farm payrolls report for August.