Leading the swing were Apple and Nvidia, both Silicon Valley giants with significant dealings in China, as shares of Apple went from as much as a 4% morning gain to a 2% daily loss by late afternoon, and Nvidia stock turned what was as much as a 3% gain to a 3% daily drop.

While the demand is there, it's clear that's not the sole reason why Nvidia's RTX 50 series is impossible to find in stores. Many retailers received fairly low stock quantities, as Nvidia reportedly experienced manufacturing issues.

Retail investors bought a net $562 million of Nvidia stock on Monday, the largest single-day inflow in at least 10 years, VandaTrack said.

U.S. President Donald Trump and the CEO of Nvidia Jensen Huang discussed DeepSeek - the Chinese company whose AI model's performance rocked the tech world - and tightening AI chip exports during their meeting at the White House on Friday,

Trump says he had a 'good meeting' with Jensen Huang but still plans to tariff foreign-manufactured semiconductors. Tariffs on China and Mexico also go into effect tomorrow.

The meeting comes amid broad anxiety about the success of a Chinese artificial intelligence app called DeepSeek.