Nvidia warns of product snags

Plunging shares: Jensen Huang, co-founder and chief executive officer of Nvidia, speaks during an event in Taipei. The company’s stock fell 4.7% to US$439.38 in New York, marking the biggest single-day drop since Aug 9. — AFP

NEW YORK: Nvidia Corp suffered its worst stock decline in more than two months after the Biden administration stepped up efforts to keep advanced chips out of China, a campaign that includes restricting the company’s sale of processors designed specifically for the Chinese market.

Nvidia warned that the new rules could hinder product development and cause other difficulties, though the changes aren’t likely to take a financial toll in the short term.