Nvidia just unexpectedly tanked these stocks, and here’s why

Group 1 - Modine Manufacturing Co. shares experienced a significant decline, dropping as much as 21% before closing about 7.5% lower, impacting other companies in the water-cooled systems sector such as Johnson Controls International PLC, Trane Technologies PLC, and Carrier Global Corp., which fell by up to 6.2% [1] - The decline in shares is attributed to Nvidia's announcement of a new generation of computer chips that will not require traditional cooling systems, as the new Rubin platform integrates various components, reducing the need for chillers [2] - Nvidia's CEO described the new 100% liquid-cooled system as a breakthrough, which has raised concerns among investors since chillers have been essential in data centers [3]