Why Nvidia Stock Fell Over 9% Today

Motley Fool2022-05-10

What happenedShares of Nvidia were down 9.24% today. The sharp move down is in tandem with widespread pain in the stock market. The Nasdaq Composite Index was down 4.29%.Another wave of selling ...

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Comments

jimstocker
2022-05-11
jimstocker
Hope tonight will rises...
Newnew
2022-05-10
Newnew
Hi
Bspn
2022-05-10
Bspn
Ok
MSTAN
2022-05-10
MSTAN
👌👌
Juvie
2022-05-10
Juvie
long term bullish?
th0mastan
2022-05-10
th0mastan
The correction is mostly due to the valuation. Now is the time when major indexes are resetting its value, no doubt as liquidity shrinks share prices of strong fundamental companies will retrace too

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The sharp move down is in tandem with widespread pain in the stock market. 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The sharp move down is in tandem with widespread pain in the stock market. The Nasdaq Composite Index was down 4.29%.Another wave of selling followed the Federal Reserve's decision to raise interest rates by 0.5% last week. The Fed is attempting to cool off inflation, but fears are rising that the central bank is playing catch-up and its aggressive rate hikes could cause a recession.So whatThere was no specific financial news coming from Nvidia to cause the stock to fall so far in a single day. However, last week news broke that the Securities and Exchange Commission (SEC) will collect a $5.5 million fine from the company. The fine relates to the SEC's claim that Nvidia failed to fully disclose how much it was being affected by the cryptocurrency boom and bust in 2018 and 2019. 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