From Nasdaq: 2024-08-01 14:06:50

Nvidia’s roller-coaster week saw shares fall amid a tech stock sell-off in response to weak economic data and the Fed’s decision not to lower interest rates. Collaborator Arm Holdings also dropped sharply after reporting earnings.

Nvidia stock was down 7% by 1:28 p.m. ET, following a 13% surge and 7% slide earlier this week. Arm stock was down 16.9%.

Investors fear Nvidia’s rapid weakening due to disappointing economic data and interest rate concerns. Arm’s stock sell-off, despite beating estimates, adds to concerns about overvaluation in AI stocks.

Nvidia stock’s volatility may continue due to shifting investor sentiment influenced by weak economic data. The upcoming July employment report and second-quarter earnings release will likely impact stock prices.

Considerations for investing in Nvidia include volatility, economic data influence on sentiment, and upcoming earnings reports. The Motley Fool Stock Advisor analysts did not include Nvidia in their 10 best stocks list, emphasizing potential investment returns in others.



Read more at Nasdaq: Why Nvidia Stock Was Pulling Back Today