Nvidia stock drops in New York as $4 billion photonics bet meets a risk-off market
Nvidia shares dropped 2.2% to $178.52 Tuesday morning, trailing a broad tech selloff that hit the Nasdaq and optics suppliers. The company announced $2 billion investments each in Lumentum and Coherent for advanced optics, but both suppliers’ stocks also fell sharply. Traders are watching for updates at Nvidia’s GTC event later this month.