Nvidia Stock Is Falling Again. When Will the Slide End?
After tumbling yesterday, shares of Nvidia (NASDAQ: NVDA) were heading south again today. Once again, weak economic data was the culprit, triggering another broad market sell-off.
This morning, the Bureau of Labr Statistics reported that the unemployment rate jumped from 4.1% to 4.3% in July, and new jobs fell to just 114,000. The news has sparked fears that the economy could be headed for a recession and that the Federal Reserve should have lowered interest rates at its meeting on Wednesday.
Nvidia was down as much as 7.2% this morning, though the stock recouped some of those losses and was down 4% in afternoon trading on Friday, slightly worse than the Nasdaq Composite, which fell 3%.
Source Fool.com
