NEW YORK / LONDON (IT BOLTWISE) – NVIDIA’s upcoming quarterly results are sending investors into a frenzy. Nervousness is growing on Wall Street as expectations of the AI chip specialist are high. Markets react with losses as hopes of a rate cut in the US fade.
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NVIDIA’s upcoming quarterly results are the focus of attention on Wall Street. Investors are nervous as the AI chip specialist’s results are seen as an indicator of the valuation of the entire tech sector. The markets reacted in advance with losses, reflecting the uncertainty among investors.
The Dow Jones lost 1.1 percent to close at 46,092 points, while the technology-heavy Nasdaq fell 1.2 percent to 22,433 points. The S&P 500 also recorded a decline of 0.8 percent to 6,617 jobs. The development marks the fourth consecutive trading day of losses for the S&P 500.
The uncertainty is compounded by fading hopes of a U.S. interest rate cut this year. Michael Brown, a strategist at Pepperstone, emphasizes that upcoming NVIDIA numbers, the US jobs report and general investor fatigue are leading to risk avoidance. Experts warn that NVIDIA’s quarterly results could trigger global share price turbulence.
The markets in Europe are also affected. The Dax fell by 1.77 percent to 23,173 points after temporarily slipping to its lowest level since the end of April. Investors will closely analyze NVIDIA’s results to identify potential weaknesses in its earnings and guidance.
The nervousness on the markets is also reflected in the price losses of other technology heavyweights. Amazon, AMD and Intel also saw significant declines. The home improvement chain Home Depot caused additional uncertainty with a lowered profit forecast for the full year, which also weighed on shares of Lowe’s.
In the cryptocurrency market, Bitcoin fell below $90,000 for the first time in seven months, which analysts see as a sign of increasing risk aversion in financial markets. The highest-volume cryptocurrency later recovered slightly but remains below its peak of over $126,000 in October.
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