IonQ stock is down 7.9% due to concerns about tech industry and Nvidia's antitrust investigation

From Nasdaq: 2024-12-09 16:17:09

IonQ (NYSE: IONQ) stock is down 7.9% in Monday’s trading, while the S&P 500 and Nasdaq Composite are also down. Concerns about potential bearish catalysts in the tech industry and China’s antitrust investigation into Nvidia are contributing factors. Despite today’s drop, IonQ stock is up 182% this year.

Investors are awaiting the latest Consumer Price Index (CPI) data from the Bureau of Labor Statistics on Wednesday. If inflation data shows prices rose more than expected, it could impact the Fed’s rate cut timeline. Growth-dependent stocks like IonQ could face bearish pressures if inflation is not as controlled as assumed.

China’s antitrust probe into Nvidia has sparked tech-sector cautiousness. Nvidia’s dominant position in high-performance GPUs used for AI applications is a key factor. While this may not immediately affect IonQ, geopolitical dynamics and regulatory issues could pressure growth-dependent tech stocks.

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Read more at Nasdaq: Why IonQ Stock Is Sinking Today