Nvidia Shares Slide 1.6% as Oil Jumps 4% on Iran Deadline
Nvidia shares fell 1.6% at the market open, underperforming as the Nasdaq slipped 0.7% while the Dow rose 0.2% and the S&P 500 dropped 0.35%. The decline coincided with a 4% surge in WTI crude to $94 and increased geopolitical tensions from Iran deadlines.
1. Nvidia's Market Opening Performance
At the 10am open, Nvidia shares declined 1.6%, leading semiconductor losses as the Nasdaq fell 0.7%, the S&P 500 dipped 0.35% and the Dow rose 0.2%. Nvidia underperformance highlighted tech weakness despite the broader index divergence.
2. Oil Price Surge and Geopolitical Concerns
Front-month WTI crude spiked over 4% to $94 per barrel ahead of a five-day deadline for potential US action on Iranian energy infrastructure. The move lifted bond yields—including the US 10-year at 4.374%—adding to market unease.
3. Semiconductor Sector Weakness
Broader chipmaker stocks tumbled, with Lam Research, Micron and Intel each down over 1%. Rising inflation expectations and geopolitical risk dampened sentiment across semiconductor equipment firms and megacap tech names.