US tech stocks rise after last week's selloff; Nvidia falls
QQQ•US tech stocks rose broadly on Monday after last week's selloff, with the Philadelphia semiconductor index up 6.5%. Nvidia fell 4.3% to its lowest level since April as investors assessed an internal investigation into whether CEO Jensen Huang had been targeted by a foreign intelligence effort.
1. Tech stocks rebound
Chipmakers and large technology companies gained on Monday, with Intel up 4.3%, Marvell Technology up 10.6%, Qualcomm up 6%, AMD up 10.9% and Broadcom up 8.7%. Microsoft rose 2%, while Meta, Alphabet, Amazon and Apple advanced between 2.3% and 4.8%.
2. Nvidia falls
Nvidia shed 4.3% and hit its lowest level since April as investors assessed the fallout from an internal investigation into whether CEO Jensen Huang had been targeted by a foreign intelligence effort. The Nasdaq 100 had recorded a fourth straight weekly decline after last week's rout.
