Nvidia (NASDAQ: NVDA) stock is bound for a volatile week this week, and those price swings started on Monday. The chip giant's shares had fallen 4% by 11 p.m. ET compared to a 1.6% drop in the wider market.

That market decline was a key factor in Nvidia's slump, but investors also have some specific concerns about an upcoming earnings report for the second quarter of fiscal 2023.

Investors don't need to look much further than the Nasdaq index to explain most of Nvidia's weak Monday performance. The tech-heavy index dove 2% in early trading, dragging down industry giants like Microsoft and Advanced Micro Devices. In the context of roughly 3% declines for these peers, Nvidia's drop isn't unusual.

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Source Fool.com