Nvidia Shares Drop 4% on 2.2% Nasdaq Decline and AI Spending Worries

NVDA•2026-06-23

Nvidia shares fell more than 4% as the Nasdaq composite dropped 2.21% on Tuesday, extending a tech selloff led by chipmakers. The decline reflected investor concern over rising interest rates and cooling AI investment enthusiasm after memory stocks plunged over 13%.

1. Broad Tech Selloff Hits Nvidia

Nvidia shares declined more than 4% as a 2.21% drop in the Nasdaq signaled waning investor enthusiasm for chipmakers, reflecting fears of reduced AI spending and rising interest rates.

2. Memory Stocks Intensify Pressure

Memory and storage names weighed heavily on the sector, with Sandisk and Micron plunging over 13% and Intel sliding more than 6%, exacerbating the downturn in semiconductor equities.

3. Global Tech Markets Slide

Global equity markets extended losses, led by Asia where South Korea’s KOSPI fell nearly 10%—Samsung Electronics and SK Hynix each tumbled over 12%—while Japan’s Nikkei and Hong Kong’s Hang Seng also ended lower.