Stock market today: Nasdaq leads stock declines as traders pare rate cut bets, Nvidia plummets after record close
Published On Jan 7, 2025, 4:00 PM
US stocks fell as investors reacted to economic data indicating mixed signals regarding inflation and job openings. The S&P 500 dropped over 1.1% while Nvidia saw a significant decline of over 6% after news of its ambitious AI plans following a recent record close. The 10-year Treasury yield increased, raising concerns about inflation and Federal Reserve rate cuts. The data showed an uptick in the prices paid index in the manufacturing sector and an increase in job openings, suggesting ongoing inflationary pressures.
Stock Forecasts
NVDA
Negative
Nvidia has hit recent highs due to its future potential in AI, but the drop suggests potential profit-taking and concerns over inflation affecting tech stocks. A broader market sell-off could indicate more weakness ahead, affecting Nvidia's stock price.
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