New York, NY – The Nasdaq Composite plunged nearly 2% on Friday, dragging down the broader market as investors reacted negatively to Nvidia's latest product announcements at CES 2025.

The tech giant's shares plummeted over 6%, wiping billions off its market capitalization. While Nvidia unveiled new platforms for robotics and autonomous driving, investors were hoping for more concrete details on its highly anticipated Blackwell and Rubin chips, which are expected to power the next generation of AI applications.

"Many investors were expecting more specific updates on Blackwell and the next-generation GPU platform, Rubin," said Cody Ackri, an analyst at Benchmark. "The lack of clarity on Nvidia's Rubin architecture, set to launch in 2026, has led to disappointment."

The sell-off in Nvidia shares triggered a broader decline in the semiconductor sector, with the Philadelphia Semiconductor Index falling 1.84%. Other chipmakers, including TSMC, Broadcom, ASML, and AMD, also experienced significant losses.

Beyond the semiconductor industry, the broader tech sector was also under pressure. Big Tech companies such as Apple, Microsoft, Meta, and Tesla all saw their shares decline. Amazon also joined the downward trend, falling 2.42%.

The Dow Jones Industrial Average closed down 178.20 points, or 0.42%, to 42,528.36. The S&P 500 index lost 66.35 points, or 1.11%, to finish at 5,909.03.