Nvidia’s market capitalization fell by $279 billion in just one session, marking the biggest fall in American history stock market. The previous “record” was held by Facebook’s parent company, Meta, whose market capitalization lost $232 billion in one day in February 2022.

The astronomical sum of $279 billion corresponds to a 9.5% drop in Nvidia’s stock. In fact, in the last three meetings, since the day that the company’s management announced profits lower than its estimates, Nvidia’s stock recorded a total loss of 14%.

The drop is also a result of a shift in investor sentiment, which is starting to become a little more cautious about the prospects for the artificial intelligence sector, which has fueled most of the stock market’s gains this year.

And as if all that weren’t enough, Nvidia’s stock lost an additional 2% following news from Bloomberg that the US Department of Justice has subpoenaed the company, along with others in its industry, as part of its investigation into whether has violated antitrust rules.

According to Bloomberg, in general, the month did not start with the best omens for stocks. On the one hand there are concerns about China’s growth which have affected the commodity market, from oil to copper. US manufacturing data was lackluster, showing a slight rise in prices, which inflation hawks see as worrying.