Why Nvidia Stock Tanked Today
Shares of semiconductors star Nvidia (NASDAQ: NVDA) declined 4.4% through 12:12 p.m. ET Tuesday. Specifically, Fed Chairman Jerome Powell just told a Senate panel that the Fed is considering accelerating winding down its bond-buying program and concluding its tapering “a few months sooner” than previously expected. The Nasdaq has nearly tripled in price over the past five years, and analysts attribute a lot of this growth to the fact that the Fed has been pumping as much as $120 billion a month in liquidity into the economy through its bond purchases.
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