Investors who snapped up shares of Nvidia Corp. at the bottom of last month’s swoon got a harsh reminder of the multiple forces pushing and pulling on the chipmaker’s business prospects.
What looked like a prescient bet in mid-September — the stock surged 14% over 15 trading days — turned sour this week as shares tumbled 8.5% in the worst two-day decline in more than a year. The rout was triggered by new US rules aimed at restricting cutting-edge technology from China, a move that threatens a chunk of the one-fifth of Nvidia’s revenue that came from that country last quarter.
