Global share prices of semiconductor makers and related companies fell on Wednesday after Nvidia’s share price in the U.S. plunged sharply overnight.

In the U.S., chipmaker Nvidia tumbled more than 9% in regular trading, leading semiconductor stocks amid a sell-off on Wall Street. Economic data released on Tuesday revived nervousness about the health of the U.S. economy. Nvidia shares slipped further in after-hours trading on Tuesday, losing 2%, after Bloomberg reported that the company had received a subpoena from the Justice Department as part of an antitrust investigation.

On Tuesday, Nvidia lost around $279 billion in value. This was the largest single-day drop in market capitalization of a US stock in history. The previous record was held by Facebook parent company Meta, which suffered a one-day loss of $232 billion in February 2022.

Nvidia’s value chain extends to South Korea and includes the memory chip manufacturer SK Hynix and the conglomerate Samsung Electronics.

Samsung shares closed 3.45 percent lower, while SK Hynix, the maker of high-bandwidth memory chips for Nvidia, fell 8 percent.

Tokyo Electron lost 8.5%, while semiconductor testing equipment provider Advantest lost nearly 8%.

The Japanese investment holding company SoftBank Group, which owns a stake in chip designer Arm, lost 7.7 percent.

Contract chipmaker Taiwan Semiconductor Manufacturing Company lost more than 5%. TSMC makes Nvidia’s high-performance graphics processors that power large language models – machine learning programs that can recognize and generate text.

The Taiwanese company Hon Hai Precision Industry – known internationally as Foxconn – lost almost 3 percent. The company has a strategic partnership with Nvidia.

The Asian selling also impacted European semiconductor stocks. Shares of ASML, a maker of key equipment used to make advanced chips, fell 5 percent in early trading. Other European names such as ASMI, Be Semiconductor and Infineon all posted losses.