NVDA - Apple Nvidia among tech giants caught in wake of Evergrande fears

U.S. tech titans such as Apple (NASDAQ:AAPL), Nvidia (NASDAQ:NVDA) and Applied Materials (NASDAQ:AMAT) joined in a broad slate of tech-sector losses resulting from concerns about the possibility that Chinese property giant Evergrande (OTCPK:EGRNF) could collapse and wreak have on China's economy. Evergrande (OTCPK:EGRNF) is facing a massive debt of $300 billion, and has warned it could go into default. Such a move is seen as potentially damaging to the Chinese economy, and could spill into international market. Many leading Chinese e-commerce and other tech companies found their U.S.-traded shared battered during Monday's trading session. It may have been guilt by association, but nearly every major U.S. tech company builds products in China and across Asia. And as such, the Evergrande situation spread negative sentiment throughout the tech sector. Apple (AAPL), which during its most-recent quarter brought in $14.8 billion in sales from China alone, saw its shares give up 2.6% as trading

For further details see:

Apple, Nvidia among tech giants caught in wake of Evergrande fears