TradingKey – On August 31, Eastern Time, AI giant Nvidia (NVDA) shares extended their pullback, dropping 0.12% in overnight trading to $217.19. Last Friday (August 28), Nvidia shares continued to fall, plunging 4.57% to close at $217.55. This large bearish candlestick dealt a heavy blow to market expectations for a bullish push to new highs.
Nvidia’s stock price experienced a downward correction last Friday, driven primarily by profit-taking in tech stocks triggered by macroeconomic headwinds, rather than operational issues at Nvidia itself. Federal Reserve (Fed) Chair Warsh delivered a hawkish speech at the Jackson Hole annual central banking symposium, warning that sticky services inflation and a still-tight labor market leave limited…
