One Man’s Affair Costs Company ₹18 Lakh Crore

Stock markets are so volatile that one controversial news can result in huge losses for investors. In the latest case, the ongoing turmoil inside tech giant Nvidia over the extramarital affair of the CEO Jensen Huang has reportedly wiped out 18 lakh Crores in market wealth as shares plunged following this disturbing news.

The entire trouble began when Nvidia’s board of directors launched an independent internal probe into the matter to see if any company security was compromised after Jensen confessed to employees about his illicit affair with a Chinese woman.

The shocking news caused Nvidia’s stock to fall by 4.27 percent US markets, after swinging wildly during intraday trading sessions. As per latest reports, investors lost over 18 lakh crore ($200+ billion) as shares tumbled further around 8 percent during trading before recovering by the end of the day.

The shocking losses have once again highlighted how personal issues of people at the helm in big companies will have a ripple effect on all investors.

The massive wealth loss left global markets worried about the company’s future leadership. Stock analysts warned that if internal and government investigations get worse, Huang might lose his CEO position, which made investors sell their shares even faster out of fear.

Adding more drama to the situation, US President Donald Trump publicly backed Jensen Huang and mentioned that the FBI is looking into the Chinese spy links. Trump shared that he personally spoke with Huang, who clearly denied knowing that the woman was involved in foreign spying activities.

The market panic also reached India. Retail investors and stock market analysts followed the developments closely. But, there is no immediate impact on Indian markets and investors as of now.