Yahoo Finance Live anchors break down how markets and chip stocks are trading.
Nvidia (NASDAQ: NVDA) has been a top performer on the stock market over the years, with shares of the graphics card specialist rising more than 3,600% over the past decade. The broader market correction has sent shares of Nvidia packing, with the tech giant losing more than 60% of its value since December 2021. The sell-off has brought Nvidia's market capitalization down to just over $300 billion from more than $800 billion in December last year.
While the U.S. has hit many of the benchmarks that signify an economic downturn, other metrics have defied the trend, leading many to debate whether the economy is actually in a recession. A key economic indicator released early Thursday seemed to tip the scales toward those arguing that it is in a recession. To be clear, there was very little in the way of company-specific news driving these technology stocks lower.