Closing changes in the main North American markets:
S&P 500 -1.45%Nasdaq Comp -3.1%Russell 2000 -1.2%DJIA +0.6%Toronto TSX -0.7%The headlines here don't begin to tell the story as Nvidia's 17% decline was the largest market cap wipeout in history, doubling the previous record.
There was broad pain in other chipmakers and power producers. High-flying Vistra was hit even worse with a 28% decline.
Despite that, far more stocks were up on the day than down as the market found many winners in a future where AI is cheaper and more-widely available. It's just that the Mag7 is such a big part of the index.
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