These seven huge companies could determine how much you have in retirement

ملخص مفصل

The 'magnificent seven' American companies - including the likes of Apple and Nvidia - now have a huge bearing on our pensions and ISAs, even if we don't think we're invested in them

The resignation of Nvidia’s CEO Jensen Huang has had a huge impact on financial markets – but you don’t even have to own a single share in the company to find yourself thousands of pounds worse off.

Nvidia is a massive multinational tech company that has experienced rapid growth during the AI boom of the past few years, and until Thursday, Huang – a co-founder – had been CEO for over three decades.

He resigned after it was reported that he had multiple affairs – including one with an alleged spy for Beijing.

The company’s value has plummeted partly as a result of the saga. Since the end of October, when the affair was first reported by The New York Times, its share price has dropped by nearly a quarter.

At one point on Thursday, $900bn had been erased since the previous weekend.

This is obviously bad news for investors – but also there’s a very big chance that these investors include you, even if you haven’t bought individual shares in Nvidia.

If you have a stocks and shares ISA, perhaps saving to buy your first home or to help your children get on to the housing ladder, there’s a good chance that you’re exposed to Nvidia.

Many retail investors put their money in something known as “exchange traded funds” (ETFs) that hold a range of stocks.

Popular funds include S&P 500 trackers – which track the stock market performance of 500 of the biggest companies in the US – and All-World trackers – which, as the name suggests, track hundreds of companies across the globe.

مطلع المقال، مقتطف من i News. لقراءة المقال كاملًا، افتحه على موقع الناشر.