Nvidia stock falls below 200-day moving average for first time in a year
Crypto Briefing
Nvidia's stock dropped below its 200-day moving average, signaling a technical breakdown despite positive long-term revenue projections.Summary
Nvidia shares fell about 3.5% to trade near $172, dropping below the key 200-day moving average (near $178) for the first time in a year. This technical breakdown occurred despite CEO Jensen Huang projecting that the Blackwell and Rubin product lines could drive up to $1 trillion in data center revenue through 2027. The broader market weakness is attributed to geopolitical turmoil, specifically the conflict involving the US and Iran, which has sharply increased crude oil prices and fueled inflation fears. This environment has caused investors to push back expectations for interest rate cuts, impacting equities like the S&P 500 and Nasdaq Composite.
(Source：Crypto Briefing)