Chip stocks rallied on Monday while Nvidia fell amid a sexual-scandal-related controversy involving CEO Jensen Huang. According to Sina Finance, the Nasdaq 100 rose 3.4% and the Philadelphia Semiconductor Index gained 7%, while Nvidia dropped 4.3%; Nvidia shares traded about $80 billion and the company lost approximately $200 billion in market value. The article noted that the rally alone did not confirm a durable bottom: from Monday’s close, the S&P 500, Nasdaq 100, and Philadelphia Semiconductor Index needed further gains of 1.3%, 3.7%, and 9%, respectively, to reach their 20-day moving averages.