Japan's Nikkei reverses gains as Nvidia shares plunge
SPY•Japan's Nikkei fell 0.7% on Thursday after reversing an early gain of as much as 0.88%, as technology stocks weakened and Nvidia shares plunged more than 8% in extended trading. The Topix rose 0.2%.
1. Nikkei ends lower
The Nikkei fell 0.7% to 60,819.836 on Thursday, reversing an early gain of as much as 0.88%. The broader Topix edged up 0.2% to 3,937.33, while Nasdaq futures were nearly 1% lower in Asian trading.
2. Nvidia weighs on chips
Nvidia shares slid more than 8% in extended trading after the Wall Street Journal reportedly reported the company was preparing to fire CEO Jensen Huang. A source familiar with the matter told Reuters that Nvidia's board was meeting to decide whether to oust Huang, as the company faced reports of two extramarital affairs involving its longtime leader. Advantest fell 4.64% and Ibiden dropped 8.32%; Ibiden was the Nikkei's biggest percentage loser.
3. Mixed market moves
Kioxia fell 2.83%, Tokyo Electron gained 0.35% and SoftBank Group dropped 3.04%. Sony Group rose 1.93%, the biggest contributor to Topix gains, while Japan Tobacco climbed 7.8%. Of the Nikkei's 225 components, 153 rose and 72 fell.
