Nvidia stock price fell nearly 10% as the market cautiously awaits the outcome of the Jackson Hole meeting 🫣
Although the results exceeded expectations, Nvidia's stock price fell nearly 10% from its overnight high as profit-taking and the market became cautious about the upcoming Jackson Hole, and the SPX index fell in 14 trading days in August. It has fallen for 11 trading days, with a cumulative loss of 4.8% this month, while the Nasdaq index has fallen nearly 7% since the end of July. Yesterday, technology and consumer stocks dragged the SPX index down 1.4%. Nvidia's return from highs led to a decline in technology stocks. Consumer stocks fell because U.S. consumption (finally) slowed down and retailers issued warnings about profit prospects. warn.
