Shares of Big Tech companies, including Nvidia (NVDA), fell on Wednesday as the broader market also saw red.
The tech-focused Nasdaq Composite (COMP:IND) fell about 2%, At the same time, the benchmark S&P 500 (SP500) and the blue-chip Dow (DJI) each fell around 1%.
AI chipmaker Nvidia’s (NVDA) stock declined about 2%, while Advanced Micro Devices (AMD) was also in the red. Qualcomm’s (QCOM) stock dipped about 1%.
Broadcom (AVGO) tumbled nearly 5%. On Wednesday, it was reported that Chinese authorities told local companies to stop using cybersecurity software made by about a dozen companies from the U.S. and Israel, including Broadcom-owned (AVGO) VMware, because of national security concerns.
In a Jan. 13 SEC filing, Broadcom said that on Jan. 6, the company entered into an underwriting agreement to issue and sell to the underwriters $4.5B in senior notes.
Meta Platforms (META) and Amazon (AMZN) each saw their stock decline by about 2%. Alphabet’s (GOOG) (GOOGL) shares dipped around 1%.
Shares of U.S. software giants Microsoft (MSFT) declined about 2%, and Oracle (ORCL) slumped nearly 5%. Salesforce’s (CRM) stock dipped about 1%. European software company SAP’s (SAP) stock slipped around 3%. Palantir Technologies’ (PLTR) stock fell nearly 2%.
Apple’s (AAPL) stock declined about 1%. Meanwhile, shares of Taiwan Semiconductor Manufacturing (TSM), which is slated to report its quarterly results on Thursday, fell about 2%.