Fed Rate Hikes Weigh Heavily on Nvidia Stock

Nvidia's stock took a hit on Friday, plummeting by around 4.6% to $545.19 per share. The tech giant's reversal has left investors wondering what caused this sudden downturn.

According to CNBC, the answer may lie in the actions of the Federal Reserve. Some analysts believe that the Fed's decision to raise interest rates could be weighing on Nvidia's stock performance.

Nvidia's chief financial officer, Colette Kress, had previously stated that the company was prepared for a potential downturn in the market. However, it seems that even with these preparations, the company may still be vulnerable to external factors such as changes in interest rates.