Stock Market Today: Nvidia Sell-Off Sparks Correction Fears, But Recovery Hopes Remain for 2024

The article discusses the recent sell-off in Nvidia’s stock, which sparked concerns about a potential market correction. Nvidia’s shares plunged over 24% after the company’s revenue forecast missed expectations, leading to a broader tech sell-off. However, the article suggests that the market’s recovery hopes remain intact for 2024, as investors anticipate the Federal Reserve’s rate hikes to slow down. The article highlights the importance of Nvidia in the AI and data center markets, and how its performance can influence the broader tech sector. Despite the sell-off, some analysts remain optimistic about Nvidia’s long-term prospects, citing the company’s strong position in the AI and data center markets. The article also touches on the potential impact of the sell-off on the broader market, with some experts warning of a potential correction, while others remain hopeful for a recovery in the coming year.

Source: https://www.businessinsider.com/stock-market-today-nvidia-sell-off-correction-recovery-tech-fed-rates-2024-6