Market Concerns Weigh on Tech Stocks Despite Nvidia's Record Quarter

Global equity markets fell after reaching a record high, driven by concerns over the valuations of leading tech firms. Nvidia's strong quarterly earnings weren't enough to dispel unease over its high market value, impacting shares globally. Key indices, including the Nasdaq, recorded notable losses.

Global equity markets saw a downturn after reaching a fresh record high, amid growing concerns about the valuations of leading technology companies. The decline was triggered by Nvidia's latest earnings report, which, while strong, raised worries about the high market value of one of the world's most valuable companies.

In the U.S., major indices reflected investor anxiety, with technology and communication services facing the steepest declines. Nvidia shares dropped 4%, contributing to a 0.70% dip in the S&P 500 and a 1.37% fall in the Nasdaq Composite, though the Dow Jones recorded a marginal gain of 0.11%.

European markets mirrored similar concerns, with the STOXX 600 index declining by 0.11% and MSCI's All Share Index falling 0.30% after an earlier ascent to a record 1,063.86. Market experts suggest that while Nvidia's forecast of significant revenue is promising, sentiment still needs to adjust to the financial realities.

(With inputs from agencies.)