The GraniteShares 2x Long NVDA Daily ETF (NVDL) closed at $46.24 on February 3, 2025, down 5.69% as Nvidia's stock faced a 2.24% decline to $117.38 amid heightened market volatility. Nvidia's downturn was exacerbated by the Trump administration's announcement of new tariffs over the weekend, imposing 25% levies on imports from Mexico and Canada and 10% on Chinese goods, fueling fears of a broader trade war. This development added to Nvidia's woes, already pressured by the competitive threat from Chinese AI startup DeepSeek, which offers low-cost AI models. The semiconductor sector, including Nvidia, is also grappling with Intel's lower revenue guidance due to macroeconomic pressures and rising competition. Nvidia's stock has broken below a seven-month rising wedge pattern, indicating institutional selling and increased bearish momentum.