Nvidia shares plunge nearly 10% in largest single-day value loss for a US firm

NVIDIA's stock value fell by $9.5 billion on Tuesday, making it the largest single-day drop in US stock market history. The technology giant has seen its value soar over the last year due to excitement around artificial intelligence and its central role in powering that technology. However, after US manufacturing figures fell below expectations and other chip makers and tech giants experienced similar dips, investors became nervous about the overall state of the economy. Despite reporting record quarterly revenue of $30 billion just a week ago, NVIDIA's growth rate is beginning to slow, hinting that the hype around AI may be calming down.