TradingKey – Following its rally the previous day, Nvidia ( NVDA) shares suddenly plunged during intraday trading on May 15, dropping over 4.6% at one point and wiping out a significant amount of market value.

[Nvidia’s stock price dropped sharply. Source: Google Finance]

During earlier pre-market trading, foreign media reported that a substantive breakthrough in the sales of Nvidia’s H200 chips to China is unlikely in the short term. Nvidia’s stock price subsequently fell to near $230, a decline of over 3%, erasing approximately $170 billion (about RMB 1.1 trillion) in market value.

Meanwhile, Nasdaq 100 futures extended losses to 1.78%, while S&P 500 futures fell 1.24%, as major tech stocks came under broad pressure. Intel fell over 5%…