Tech stocks tumble on new Nvidia weakness [Video]

Tech firms led equity markets lower Wednesday as chip titan Nvidia lost further ground while disappointing data on US trade also hit sentiment.

The sight of investors running to the hills sparked memories of the brief but tumultuous sell-off at the start of August, which was partly fuelled by a big miss on US jobs creation.

All three leading indexes in New York had ended sharply lower Tuesday, with the tech-heavy Nasdaq hit hard as traders dumped big-name tech firms including Apple, Alphabet and Amazon, while Nvidia shed almost $280 billion of value on fears the surge in artificial intelligence-linked firms may have run too far.

There was no let-up Wednesday as Nvidia lost three percent shortly after the New York open following a Bloomberg report that it has been subpoenaed by US antitrust regulators as part of a probe into its practices.

About 15 minutes into trading, the Nasdaq …