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Nvidia stock tumbles from record high on news of possible US chip export cap, ASML's dismal earnings

Yahoo Finance
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Nvidia 's tumble reverses a two-week winning streak that saw the stock rally to a new record closing price Monday .

The stock's tumble began in response to a Bloomberg report that Biden administration officials are considering capping US chip exports to certain countries.

The stocks of fellow chipmakers Advanced Micro Devices ( AMD ) and Intel also fell on the news.