Nvidia Drag Leads Nasdaq Lower as SOX Ends 11-Week Winning Streak

The Nasdaq and S&P 500 declined as the SOX index ended an 11-week winning streak following a 5% drop in Nvidia shares.While the US government approved Jensen Huang's H200 chip sales to China, Beijing has yet to grant permission for the deal.C3.ai announced plans to cut 26% of its global workforce after providing a weak sales forecast for the current quarter.Salesforce shares boosted the software sector despite weak revenue guidance under Donald Trump's 25% tariffs as analysts noted a market hangover.