CNBC Daily Open: Nvidia sinks and data’s weak, but hold on

This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Like what you see? You can subscribe  here .

Nvidia sinks
Nvidia shares plummeted 9.5% Tuesday. Nvidia's slide continued in extended training, falling 2% after it was reported the company received subpoenas as part of an antitrust investigation. Perhaps aware of the risks, more than half of Tiger 21's members – a club of ultra-high-net-worth investors – don't invest in Nvidia.

Ugly markets
Dragged down by Nvidia's plunge and weak economic data, U.S. stocks had their worst day since Aug. 5's sell-off. Taking a lead from the U.S., Asia-Pacific markets plunged Wednesday. Japan's Nikkei 225 sank more than 4%, Korea's Kospi index fell around 3% and the Taiwan Weighted Index dropped 4.5%.

Weak links in Nvidia's supply chain
The abovementioned Asian markets slid so dramatically because they comprised Asian chipmakers most connected to Nvidia's supply chain. SK Hynix, which sank 8%, and Samsung Electronics, which fell 3.3%, produce memory chips for Nvidia. TSMC, which manufactures Nvidia's graphic processing units, declined 5.4%.

Low heat
U.S. crude oil futures fell more than 4% Tuesday and continued dropping around 0.6% during Asian trading hours. U.S. West Texas Intermediate prices are now trading at $69.88 a barrel, more than erasing its gains for 2024. That's because of a possible restart of Libya's oil production, an increase in supply by OPEC+, and weak demand by China's economy.

[PRO] Powering AI
The energy sector is a natural beneficiary of the artificial intelligence frenzy. AI data centers suck up lots of power, which means energy companies