Nvidia Drops 6.9% as Tech Sector Posts Worst Relative Streak Since 2010
NVDA is trading near its 52-week low of $164.27 (2.1% above the low) on elevated volume (2.7× avg).
Summary
Nvidia fell 6.9% Tuesday, pushing the stock to its steepest five-day decline since the 2022 bear market and near its 52-week low of $164.27. The move comes as the Technology Select Sector SPDR Fund has lagged the S&P 500 by 12.7 percentage points over more than 100 trading sessions through November 5 — the widest relative shortfall since at least 2010, roughly two standard deviations below the historical mean. The article notes that prior episodes of similar statistical extremes often coincided with a relative bottom for tech, but that precedent is not a guarantee. The selloff is happening against a strong fundamental backdrop: Q2 FY27 revenue doubled to $96.2B with Data Center up 117%, and the company guided Q3 to $108B. The pressure is rotation-driven rather than company-specific, though the stock is now testing levels that matter for positioning.
At the time of this announcement, NVDA was trading at $167.73 on NASDAQ in the Technology sector, with a market capitalization of approximately $4T. The 52-week trading range was $164.27 to $243.37. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: Seeking Alpha.