17 July 2025: 09:30 BST
Top heavy? Short sell? Nvidia’s been a massive driver of the last few months of stock market rally and has even exceeded the GDP of major countries! It’s market cap is now bigger than the GDP of Canada, the UK and India – and Germany’s next on the hitlist. In terms of market capitalisation, Nvidia is bigger than all but 5 national stock markets! Only Hong Kong, India, Japan, China and the US itself are the only ones bigger! The stock market’s centre of gravity looks somewhat high, with such a mammoth share in a single company, and don’t look too closely at the price-to-earnings ratio! The impact of a correction on Nvidia will make us all cry. Get your handkerchiefs ready. Sanctions and secondary tariffs on Russian oil could put up another hurdle for India’s economy, as you’ll find out on page 2… But they don’t care.
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