Semiconductor stocks fell collectively, the US ISM manufacturing index was lower than market expectations, and Nvidia's stock price plunged, exacerbating market concerns.
1min read Semiconductor stocks fell collectively, with Q Tech (02878) down 4.35% to HK$0.33; Huahong Semiconductor (01347) down 2.51% to HK$16.32; Shanghai Fudan (01385) down 1.48% to HK$10.64; and SMIC (00981) down 2.32% to HK$16.00 as of the time of writing.On the news front, in the United States, the manufacturing index released on Tuesday was only 47.2%, up 0.4 percentage points from July but still lower than the market's expectation of 47.9%. The index is a key indicator of manufacturing expansion and contraction, with a value below 50% indicating a contraction in the industry. This data has heightened fears of a recession in the US economy, leading to sharp volatility in the stock market.Affected by this, the three major US stock indexes all recorded their worst day since the global stock sell-off on August 5. The selling of tech stocks was particularly severe, with Nvidia, a chipmaker, losing more than 9% in regular trading, becoming a focal point. Nvidia's stock price fell nearly 10% in regular trading, erasing $279 billion in market value. If its after-hours trading, which once reached a 2% decline, is included, its market value has lost about $300 billion. Nvidia's stock price has plunged again, rekindling investors' concerns about the overheated AI craze and the widespread decline in investors' acceptance of the "grand narrative logic" of AI.