Nvidia lost $300 billion in market value this week

Suppressed by the Fed's expectation of postponing interest rate cuts, the stock price of the "Seven Sisters of U.S. Stocks" plummeted this week, with a total market value of $950 billion, the worst week in history.

In terms of stock prices, Tesla was the top loser, falling more than 14% this week. However, in terms of the amount of market value evaporation, Apple, Microsoft, and Nvidia contributed the most, and the market value of these three companies far exceeded that of Tesla.

Nvidia was the tech giant that lost the most in market value this week, losing nearly $300 billion, far outpacing rival AMD's total market capitalization of $237 billion.

Nvidia shares plunged 13.6% this week, their worst week since September 2, 2022.

Dow Jones market data showed that Nvidia shares plunged 10% at the close of trading on Friday, the biggest one-day drop since March 16, 2020. The stock price plummeted nearly $85, setting a new record for the largest one-day decline in history.

Jordan Klein, a resident analyst at Mizuho Securities, said that "the entire industry has retreated" in the chip field, and the speed of the retracement has been getting faster and faster in the past week or so.

On Friday alone, Nvidia's market value evaporated by $212 billion, setting a new record in the company's history and surpassing the previous evaporation of $129 billion on March 8, 2024. It was also the second-largest one-day evaporation in the history of U.S. companies.

This week, the stock price of the "Seven Sisters" fell across the board, led by Tesla, with a decline of 14.03%.

This week, Tesla's market capitalization shrank by $76 billion to about $468 billion, and its ranking fell all the way to 14th among U.S. listed companies. Tesla's market capitalization was overtaken by Walmart on Thursday and ExxonMobil on Friday, and Tesla's market capitalization ranking has been ahead of these two companies from January 2023 to last week.

In addition, Apple's market value evaporated by $178 billion this week, Microsoft's market value shrank by $169 billion, Amazon's market value evaporated by $118 billion, Google's parent company Alphabet lost $41 billion, and Meta's market value shrank by $68 billion.

The Seven Sisters fell below their 50-day moving average for the first time since October last year this week, wiping off a combined $950 billion in market capitalization, far exceeding the previous record of $872 billion set in January 2022.