Reasons Behind the Recent Drop in Nvidia's Share Price

Saturday, 9 March 2024, 09:45

Nvidia's stock price witnessed a significant decline of over 5.50% following an 80% rally year-to-date. The drop was attributed to weaknesses in the auto sector and disappointing US job data, impacting speculation around Fed rate cuts. This article delves into the core reasons behind Nvidia's recent market performance and the implications for investors.
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Reasons Behind the Recent Drop in Nvidia's Share Price

Analysis of Nvidia's Share Price Plunge

Nvidia's stock price experienced a sharp decline of over 5.50% after a remarkable 80% growth in the year-to-date trading. This drop was primarily influenced by two key factors:

  • Weakness in Auto Sector: The performance of auto majors directly impacted Nvidia's share price, leading to a substantial decrease.
  • Disappointing US Job Data: Negative US job figures caused uncertainties in the market, affecting speculation on potential Fed rate cuts.

Stock market experts highlighted these reasons as critical drivers behind the recent turbulence in Nvidia's share price.


This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.


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