Stock Market Sell-Off: Nvidia Stock Price Plunges as DOJ Launches Antitrust Probe

The article discusses the recent sell-off in the stock market, with a particular focus on Nvidia’s stock price plunge following the announcement of an antitrust probe by the U.S. Department of Justice (DOJ). The DOJ’s investigation aims to scrutinize Nvidia’s proposed $40 billion acquisition of chip designer Arm Ltd. from SoftBank Group Corp. Nvidia’s shares tumbled as much as 9.5% on the news, contributing to the broader market sell-off. The article highlights the potential implications of the DOJ’s probe, which could potentially block or impose conditions on the Nvidia-Arm deal. It also explores the broader context of antitrust scrutiny on major tech companies and the potential impact on the semiconductor industry. The key takeaway is that the DOJ’s investigation adds uncertainty to Nvidia’s acquisition plans and raises concerns about potential regulatory hurdles for the deal.

Source: https://markets.businessinsider.com/news/stocks/stock-market-today-sell-off-nvidia-stock-price-doj-antitrust-2024-9