There is some real divergence in the fortunes of stocks within the Nasdaq at the moment. The Nasdaq Composite is down 1.2% but there is some major variance within that.
The biggest drag is undoubtedly Nvidida, which continues to sink following the reversal lower on Thursday. It’s down 7.4% to $115.59 and is the worst performer on the S&P 500. The February tariff-panic low of $113.00 is a key support level to watch from here.
NVDA daily chart
Other chip names are also struggling today as the market questions AI.
Earlier today, one of the upside drivers was Tesla after it caught an upgrade from a Morgan Stanley analyst. It rose as much as 3% pre-market but is now down 1.5% to the lows of the day.
TSLA daily