London-listed tech trusts suffer further losses after Nvidia fallout

London-listed technology trusts have suffered another bruising sell-off on Friday after Nvidia’s shares were thrown into turmoil by Jensen Huang’s dramatic departure.

The Details

Nvidia shares opened 1.7 per cent lower at Friday s opening bell, after plunging as much as 14.3 per cent on Thursday following news of three separate affairs that resulted in the resignation of its chief executive after 33 years at the helm.

The losses dragged the tech-heavy Nasdaq Composite Index down 0.3 per cent, while the S P 500 shed 0.1 per cent.

Losses were exacerbated by revelations of a third extramarital affair involving Huang, following news of one with a woman who is suspected to be a Chinese spy by the US government and Nvidia’s vice president of healthcare.

Betting big

The crisis surrounding Huang has dealt a heavy blow to several London Stock Exchange-listed technology investment trusts that have bet big on the chipmaker, long deemed essential to the AI trade.