NVIDIA ($NVDA) experienced its largest single-day decline since April 2024, as the “Magnificent 7” tech stocks collectively lost $550 billion in market value. This 10% dramatic drop signals the return of volatility, especially with the U.S. elections on the horizon. Analysts had warned of such market swings in their H2 outlook. The selloff highlights growing investor unease as the political landscape becomes increasingly uncertain.
Source: The Kobeissi Letter, Bloomberg
All three major U.S. stock indicators suffered easily their steepest declines since Aug. 5’s crash sparked by global slowdown angst.
The benchmark S&P 500 declined 2.1% in September’s first day of trading, while the bluechip Dow Jones Industrial Average sank 1.5%, or 626 points, and the tech-concentrated Nasdaq tanked 3.3%.
However, market experts believe this dip could present a buying opportunity, with long-term growth potential still strong for NVIDIA and other tech giants. #buythedip #nvidia