Investors may need to get used to more global market panic, says veteran trader | The Business
Marcus Today senior analyst Henry Jennings says investors may need to get used to panic on global financial markets, following last week’s market meltdown. He says “volatility begets more volatility” and he does not think investors are “through the woods” yet. “I think this is something we have to get used to,” Mr Jennings said. “The markets have become far more gamified in some respects with computers, algorithmic trading, etc… you know once things get triggered and {tech} being a crowded trade as well, if everyone rushes to the exit at the same time and someone is shouting ‘fire’ it can get a little uglyto say the least.” Jennings warned”this is what panic looks like … and I think we’re going to have to live with this a little while”
Meanwhile technology giant Nvidia says it’s launching an independent investigation into claims its chief executive Jensen Huang had an affair with a businesswoman who passed information to Beijing.
The woman is Alice Huang, a former executive of Nvidia customer megaspeed – a company allegedly scrutinitsed over suspicions it helped China gain access to advanced AI chips barred from the country. Republicans have called on Mr Huang to brief the US congress about allegations this month.
Nvidia says its board had no reason to believe that either US national security or Nvidia secrets were compromised, but its inquiry would examine all available information.
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