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Wall Street Slips After SoftBank Sells Entire Nvidia Stake
SoftBank’s full exit from Nvidia rattles Wall Street, raising concerns about overvaluation in AI stocks and dampening rate cut bets.
U.S. markets turned volatile after SoftBank disclosed it sold its entire stake in Nvidia, triggering a sharp 2% drop in Nvidia shares. The sell-off weighed on broader AI-led names and sparked caution over lofty valuations.
Investors’ hopes of a December rate cut have dimmed slightly, adding to the jittery tone.
The fading risk-on mood reflects rising concern that AI-driven earnings may already be priced in, especially if macro conditions turn unfavourable.