Nvidia (NASDAQ: NVDA) stock is falling in Wednesday's trading. The company's share price was down 5.5% of 2:45 p.m. ET, according to data from S&P Global Market Intelligence. Meanwhile, the S 500 index had fallen 2.2% and the Nasdaq Composite was down 3.3%.

Nvidia stock is losing ground in conjunction with recent earnings reports from two of the world's biggest and most influential companies. and Tesla each issued second-quarter results and guidance yesterday, and the reports kicked off a substantial pullback across the stock market.

Earnings season is underway, and Alphabet and Tesla were the first members of the "Magnificent Seven" to report earnings. The group, which also includes Nvidia, Apple, Microsoft, Amazon, and Meta Platforms, is highly influential when it comes to shaping overall stock market sentiment. Unfortunately, Wall Street wasn't impressed with either of yesterday's most high-profile quarterly reports.

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Source Fool.com