Nvidia (NASDAQ:NVDA) stock is heading lower and the company’s descent is dragging down the rest of the Nasdaq Composite with it.
As of this writing, shares of NVDA stock are down 4.4%. This has the Nasdaq Composite falling 0.22% on Monday afternoon.
That’s worth pointing out, as it’s the only one of the three major exchanges slipping today. The S&P 500 is up 0.31%, and the Dow Jones Industrial Average is up 0.85% at that same time.
Investors will also note that this marks the third day of trading in a row that NVDA stock is falling. This could be a sign that the shares are losing some of the steam gained in the first half of 2024.
What’s Hitting NVDA Stock?
It’s less that specific news is pulling NVDA stock down today and more that market sentiment is moving away from the artificial intelligence (AI) company. This comes as other concerns, such as the 2024 presidential election and the upcoming personal consumption expenditures (PCE) index release, take center stage.
It’s also worth noting that despite these recent drops, Wall Street remains positive on Nvidia. That could be a sign that the slips seen these last few days aren’t anything for traders to worry about.
After all, NVDA stock is up 151.2% since the start of the year.
Investors will want to stick around for even more of the most recent stock market stories!
We have all of the hottest stock market news that traders need to know about on Monday! That includes all of the latest news for MicroAlgo (NASDAQ:MLGO) stock, Plug Power (NASDAQ:PLUG) stock and Nio (NYSE:NIO) stock. You can catch up on all of these matters at the following links!
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
