Shares of Nvidia Corp. sank 7.4% on heavy volume in midday trade Wednesday, as they suffered a third-straight loss following Friday’s record close. Volume swelled to 16.3 million shares, already more than the full-day average of 12.6 million shares. The stock has now plunged 10.1% during its losing streak, the biggest three-day selloff since it tumbled 10.6% during the three-day stretch ending Feb. 8, 2016. On Tuesday, shares of Nvidia and rival graphics chip maker Advanced Micro Devices Inc. took a hit after Mizuho analyst Vijay Rakesh warned that the cryptocurrency market could become less meaningful for chip companies. AMD’s stock slid 3.2% on Wednesday. The stocks’ selloff comes amid broad weakness in the chip sector, with the PHLX Semiconductor Index shedding 4.4%. The chip sector tracker has now lost 5.7% since closing at a record high on Friday.
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