UK shares down after Nvidia plunges almost 10%
UK shares dropped on Wednesday morning following falls in Asian and US markets as concerns grow about the world’s largest economy.
Data showed US manufacturing activity remains subdued, with investors now focussed now on US jobs figures due on Friday.
American chip giant Nvidia was hit particularly hard, slumping by almost 10% as optimism about the boom in artificial intelligence (AI) dampened.
Despite the sharp fall, Nvidia’s shares are still worth double their value a year ago.
The FTSE 100 index, which comprises the largest companies on the London Stock Exchange, dropped 0.55% by lunchtime, with major European indexes also down. Germany’s Dax fell 1.41%, France’s Cac 40 was down by almost 1%, and Spain’s Ibex was also lower, by 0.51%.
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