Nvidia Stock Down 2% Amid Broader Market Pressure

Nvidia's stock took a hit on Tuesday, falling around 2% in early trading as higher Treasury yields and inflation concerns weighed on semiconductor stocks.

The decline came alongside a broader market pullback, with Western Digital slipping almost 7%, Sandisk dropping more than 6%, and Marvell Technology and Seagate Technology also falling over 6%.

The S&P 500 declined 0.5%, while the Nasdaq Composite fell 1.1%. The Dow Jones Industrial Average was down 191 points, or 0.4%.

Nvidia's recent rally faces broader market pressure, but its year-to-date gain remains above 16%, compared to around 15% for the Nasdaq Composite and 13% for the S&P 500.