Nvidia’s $279 billion single-day market cap loss triggered a 12% plunge in the 2x leveraged NVDL ETF, highlighting risks of daily-reset leverage.
The GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL) fell 12% on June 5, 2026, as Nvidia (NASDAQ:NVDA) lost $279 billion in market value, the largest single-day dollar decline in the chip sector this year. NVDL opened near $109.45 and closed at $95.91, reflecting the fund’s 2x leverage on NVDA’s 6.2% drop from $218.66 to $205.10.
The selloff followed Broadcom’s Q3 AI guidance miss, which fell short by over $1 billion, and CEO Hock Tan’s remarks suggesting Google may diversify chip suppliers. Despite Nvidia’s 85% revenue growth and $91 billion Q2 guidance, investor concerns over customer concentration weighed on sentiment.
A $10,000 investment in NVDL at Thursday’s close would have reflected the full 12% decline by Friday’s close, illustrating the compounding risks of daily-reset leveraged ETFs during volatile sessions.