Nvidia is experiencing a continued sell-off as the stock market reacts to mixed economic signals and broader market trends. The AI-focused chipmaker's shares have been under pressure, with a notable decline of 1.8% on December 16th, marking its lowest level since mid-October. This decline triggered a sell signal, as the stock fell below a critical 7% loss threshold from a previous buy point of 140.76. The stock's performance has been further impacted by its position below the 50-day moving average, a key technical indicator that investors closely monitor.
The broader market environment has also contributed to Nvidia's struggles. The Dow Jones Industrial Average, S&P 500, and Nasdaq all opened lower on December 17th, influenced by November retail sales data that presented a mixed economic picture. Additionally, the anticipation of the Federal Reserve's policy meeting, with a high probability of a rate cut, has added to market uncertainty. These factors have created a challenging backdrop for Nvidia, as investors reassess their positions amid fluctuating economic indicators.
Nvidia's stock is currently priced at 129.5201, down 1.88% from its previous close of 132. The stock has seen a range of volatility, with a high of 131.59 and a low of 126.86 on December 17th.