NVIDIA (NASDAQ:NVDA) shares are experiencing a significant decline, causing the Nasdaq Composite to fall as well. At the time of writing, NVDA stock is down 4.4%, leading to a 0.22% drop in the Nasdaq Composite on Monday afternoon. This marks the third consecutive day of trading that NVDA stock has been falling, potentially indicating a loss of momentum gained earlier in 2024.
The decline in NVDA stock is not due to any specific news, but rather a shift in market sentiment away from the artificial intelligence (AI) company. Other factors, such as the 2024 presidential election and the upcoming release of the personal consumption expenditure (PCE) index, are also influencing market movements.
Despite the recent declines, Wall Street remains positive on Nvidia, with the stock still up 151.2% since the beginning of the year. This suggests that the recent slippages may not be a cause for concern among traders. Investors will want to stay informed about the latest developments in the stock market.
In addition to NVDA stock, other stocks such as microsomething (NASDAQ:MLGO), power plug (NASDAQ:PLUG), and child (NYSE:CHILD) are also making headlines on Monday. For more information on these topics, readers can access the links provided in the article.
It is important to note that the opinions expressed in this article are those of the author and do not constitute a recommendation to buy or sell any securities. Investors should conduct their own research and consult with a financial advisor before making any investment decisions.
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https://investorplace.com/2024/06/nvidia-nvda-stock-is-falling-and-its-dragging-the-nasdaq-down-with-it/