Nvidia CEO Jensen Huang told investors in Berlin on October 16 that “all of this is going to pass,” after the tech sector lost more than $1 trillion in value in a single session. The Nasdaq 100 fell 2.5%, and the Philadelphia semiconductor index dropped 3.8% for its eighth straight losing day, its longest such streak since 2008, while AMD and Intel each fell nearly 6%. Nvidia slid only 1.43% to $214.13, holding a $5.17 trillion market value and a 55.6% net margin that made it a safe harbor within the chip group. The article attributes the selloff to oil above $101 a barrel and the 10-year Treasury yield at 5.10%, forces that Huang's AI optimism cannot counter. Huang announced no orders, guidance or new customers, so his comments reflect the view of an executive who stands to gain most from continued AI spending.
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Related tickers and likely impact
NVDA
▼ Likely negativeNvidia
Relevance: high
| Market | US stocks |
|---|---|
| Sector | Information Technology |
| Industry | Semiconductors |
| Market cap | $5.2T |
| Close on 10/16/2026 | 214.14 |
| Change that session | -1.42% |
QQQ
▼ Likely negativeInvesco QQQ Trust
Relevance: high
| Market | US stocks |
|---|---|
| Sector | ETF |
| Close on 10/16/2026 | 709.82 |
| Change that session | -2.50% |
SPY
▼ Likely negativeSPDR S&P 500 ETF
Relevance: medium
| Market | US stocks |
|---|---|
| Sector | ETF |
| Close on 10/16/2026 | 763.31 |
| Change that session | -1.10% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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