Nvidia on track for longest weekly losing streak since 2012 as market value sinks by $1.6 trillion

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Nvidia investors turned bearish before this week's Jensen Huang saga. But the selling on Wall Street accelerated in the past few days, sending the stock toward its sixth straight weekly drop, the longest losing streak since 2012. The chip giant, which spent most of the year as the world's most valuable company, has lost 29% of its value over that stretch as of Thursday's close. That's a drop of roughly $1.6 trillion in market cap, and it fell below Apple in the process. Huang, who co-founded Nvidia and led it for 33 years, resigned on Thursday after two separate extramarital affairs — one with an alleged Chinese spy and the other with an employee — were made public.