Tech companies continue to hit the breaks on hiring against the backdrop of a declining stock market and recession fears.
Despite pledging to help employees obtain abortions, Amazon, Disney, and AT&T all donated to abortion opponents; Tesla has been hit with another racial discrimination lawsuit; and inflation is hitting July 4th food.
Shares of Nvidia (NASDAQ: NVDA) plunged this week after the company's stock received a price target cut, some analysts had a few negative comments about the chip market, and investors worried that comments made from another chip company about slowing demand might mean bad news for Nvidia as well. Investors panicked a bit on all this news and sent the semiconductor stock falling 15.3% over the past week. Nvidia started off the week with Morgan Stanley warning that there could be a potential slowdown in demand for graphics processors as Ethereum, a leading blockchain and cryptocurrency, switches to a proof-of-stake model and away from its current proof-of-work setup.