$500 billion wiped out: Global chip sell-off spreads from Wall Street to Asia
The Wall Street meltdown on Tuesday was triggered by shares of Palantir, which fell over 8% despite an earnings beat. The stock has risen 175% so far in 2025 and trades at a one-year forward price-to-sales multiple of over 80 times, making it the most expensive stock on the S&P 500. An underwhelming guidance from Nvidia rival AMD also failed to enthuse investors.
The Wall Street meltdown on Tuesday was triggered by shares of Palantir, which fell over 8% despite an earnings beat. The stock has risen 175% so far in 2025 and trades at a one-year forward price-to-sales multiple of over 80 times, making it the most expensive stock on the S&P 500. An underwhelming guidance from Nvidia rival AMD also failed to enthuse investors.
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