Nvidia shares have dropped sharply - wiping $200billion off the tech giant's value - after a probe was launched into Chief Executive Jensen Huang's alleged affair with a Chinese spy.

Huang admitted to having an extramarital affair, amid claims from the US that he had been the target of an espionage campaign from China.

Nvidia announced an independent investigation into the matter, while Donald Trump has claimed the FBI is "looking into" it as well.

US intelligence, The Times reports, suspects that the Nvidia boss had a relationship with Alice Huang, a former director at Singapore-based Megaspeed, a customer of Nvidia, and that she is likely to have been recruited by a Chinese spy agency.

The news rocked investors' confidence in Nvidia, with shares closing in New York on Monday down 4.3% - wiping $200billion off the company's value.

Huang, who holds a 3.6% stake in Nvidia, also saw his net worth plummet by approximately $6.5billion in the wake of the news.

China has rejected the claims, labelling the spy allegations as "entirely groundless, speculative and intended to smear and malign China".

FSTE100

The UK's flagship share index, the FTSE 100, was up 122 points at 10,834 shortly after opening this morning.

Brent crude oil futures were down 1.69%, sitting at $91.01 a barrel this morning.

Companies reporting

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  • Princes Group - Q3 Results
  • Taiwan Semiconductor Manufacturing - October Sales
  • Vodafone Group - Half Year Results
  • Watches of Switzerland Group - Half Year Trading Statement

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