NVIDIA (NVDA.O) stock price plummeted nearly 17%, marking the largest market value drop in the history of U.S. stocks

ChainCatcher news, according to Jinshi reports, Nvidia (NVDA.0) stock price plummeted nearly 17%, resulting in a market value loss of $589 billion, marking the largest market value drop in U.S. stock history.

According to Forbes, the company's CEO and largest individual shareholder, Jensen Huang, saw his net worth shrink by $20.8 billion at the close, dropping from $124.4 billion to $103.7 billion, falling from 10th to 17th place on Forbes' real-time billionaire rankings. Oracle (ORCL.N) fell 14%, with Chairman Larry Ellison's net worth decreasing by $27.6 billion, dropping from third to fifth on the global billionaire list.

The Bloomberg Billionaires Index shows that the world's 500 richest individuals collectively lost $108 billion on Monday, with tech industry giants' wealth evaporating by $94 billion, accounting for about 85% of the total decline in the index.