LSE:ARM 10 July 2025

March 20, 2026, 12:01 PM EDT. The Nasdaq composite dropped about 1% on March 20, 2026, led by a sharp 28.37% plunge in Super Micro Computer shares following charges against its co-founder for conspiring to smuggle $2.5 billion of Nvidia AI chips to China. The indictment alleges complex export control violations, involving fake shipping documents and label swapping to mask shipments through Southeast Asia. Nvidia shares fell 1.66% given their exposure to Super Micro, and AMD dropped 2.32% amid sector-wide unease. The Invesco QQQ Trust also slipped 1%, extending its four-week losing streak amid ongoing geopolitical strains, including Iran tensions and volatile oil prices. Analysts question Super Micro's credibility and internal controls despite the charges targeting individuals rather than the firm itself.