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After three days of heavy losses, Nvidia has recovered some of its losses since Tuesday.
Here’s how Wall Street’s leading index has fared since the second trading day of the week began:
- Dow Jones fell 0.14%
- Nasdaq tech index rose 0.51%
- The S&P 500 overall rose 0.14%
The Nasdaq fell more than 1% on Monday, its weakest day since April.
The index was pulled down Nvidia, the favorite of AI, closed down nearly 7%.
Nvidia shares rose about 2.5% shortly after the stock market opened on Tuesday.
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Nvidia’s fall
This year, Teck’s stock price has led the S&P 500 and Nasdaq in strong gains, while the Dow Jones has lagged.
– The question investors must now ask is whether the stock has sold off far enough since Nvidia is in correction territory, or whether we are seeing a structural downturn that will weigh on the major U.S. indices,” said Kathleen Brooks, head of research at XTB. Reuters.
Nvidia’s market value has shrunk by nearly $500 billion since its peak last Thursday.
– The good news is that in the long run, Nvidia is still on the upside, Jeff deGraaf of Renaissance Macro Research said on CNBC’s “Closing Bell.”
– Respirator
Bernt Berg-Nielsen, Manager at Stolt Capital Management One of the reasons Nvidia’s stock price fell is that it rose too fast, he told E24 on Monday..
– He said it was natural to take a breath when the market value went from $2 trillion to $3 trillion in just 96 days.
Other computer chip makers also struggled on Monday, such as Advanced Micro Devices, Qualcomm and Broadcom, wrote American Financial Channel.
Last week there was a period of time Nvidia is the most valuable company in the world.
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