Nvidia's stock price falls by nearly 10%, market cautiously awaits Jackson Hole meeting outcome🫣
Despite reporting blockbuster results, Nvidia round tripped nearly 10% from the overnight peak on profit-taking and apparent concerns into Jackson Hole today as the ugly August continues. The SPX is down 11 out of 14 trading days for a -4.8% MTD and the Nasdaq down nearly -7% since the end of July. Tech and consumer names dragged the SPX down by -1.4% on the day, with Nvidia dragging the former entirely into the red, and the latter struggling on further profit warnings as US consumers (finally) appear to be slowing down.
