Mumbai, Nov. 19 -- The Dow slumped 498.50 points (1.1%) to 46,091.74, the Nasdaq tumbled 275.23 points (1.2%) to 22,432.85 and the S&P 500 slid 55.09 points (0.8%) to 6,617.32.

Nvidia tumbled by 2.8%. The strength of Nvidia's results and its guidance could have a significant impact on the markets amid recent concerns about an AI bubble. the Commerce Department released a report showing a significant rebound by new orders for U.S. manufactured goods in the month of August. The report said factory orders jumped by 1.4% in August after tumbling by 1.3% in July.

Computer hardware stocks turned in some of the market's worst performances, with the NYSE Arca Computer Hardware Index plunging by 3.7%. Semiconductor and software stocks saw substa...