Nvidia Drops 4.6% as Fed's Warsh Reaffirms Inflation Fight
NVDA sits 33% above its 52-week low of $164.07.
Summary
Nvidia fell 4.6% on Friday as Fed Chair Warsh's Jackson Hole speech reiterated the central bank's commitment to fighting inflation, raising the odds of a September rate hike. The stock had rallied the prior session on its blockbuster forecast, but the hawkish tone pressured chip stocks broadly. This follows Nvidia's Q2 FY27 results on Aug 26, where revenue doubled to $96.2B and Q3 guidance of $108B was issued. The macro rate environment is now a key swing factor for high-multiple AI names like Nvidia. Watch the August jobs and inflation data, which BofA's Bhave says will determine whether Warsh delivers a hike in September.
At the time of this announcement, NVDA was trading at $217.88 on NASDAQ in the Technology sector, with a market capitalization of approximately $5.2T. The 52-week trading range was $164.07 to $236.54. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: Moneycontrol.