Nasdaq extends decline to 2.6%, eyes on Nvidia

There is an article doing the rounds in a source that I'm not sure is reputable but it says Nvidia is having a serious issue with an upcoming chip and "has delayed the device by months so far with no fix in sight."

That's certainly not helping as Nvidia shares are down 5.4% to $95.98.

It's part of a broad selloff in the Nasdaq that has the index down 2.6% to the worst levels since Trump paused his 'reciprocal but not reciprocal' tariffs for 90 days.

As for Nvidia, it's held lows in the $90 range several times in the past 10 months. The bulls will highlight that it's only trading at 17x earnings but the bears worry that its earnings are a one-time bubble, particularly with reports that Huawei has a new chip that's going to ship imminently.

It achieves performance comparable to Nvidia’s H100 chip by combining two 910B processors into a single package through advanced integration techniques, they said.

Everything is being questioned in terms of US and USD dominance at the moment.