US EditionNvidia’s Drop Drags the US Market Down Even as Most Stocks Rise
Nvidia's shares fell over 5% despite surpassing revenue forecasts, causing more than half of the S&P 500's 1.1% decline on valuation and profit-taking concerns, analysts said.
- During Thursday, Nvidia reported a blowout quarter and topped revenue estimates, yet Wall Street waved off the results.
- Investor concerns over AI spending drove skepticism as Nvidia's routine blowout quarters lose oomph, while its status as the largest U.S. stock amplifies S&P 500 impact.
- Data from the session reveal the S&P 500 fell 0.5%, with Nvidia's decline as much as 5.6%, accounting for over half of the index's drop during the session.
- By contrast, most S&P 500 constituents rose, with seven up for every three that fell, and a software ETF climbed 492 despite Nvidia's troubles.
- Broader market moves — from oil to bonds — reflect doubts over AI growth narrative, amid volatile oil swings and U.S.-Iran indirect talks on Thursday.
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Nvidia stock falls despite strong earnings
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Daily Journal
Nasdaq resumes selloff as Nvidia falls despite strong results
The tech-rich Nasdaq was back in retreat Thursday as lingering worries over the artificial intelligence boom overshadowed strong Nvidia results while leading bourses in Asia and Europe hit fresh records.
Strong Nvidia figures fail to raise the mood for tech shares. Investors also focus on the negotiations between the US and Iran.
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