Nvidia down 30% from high as tech-led sell-off hits Magnificent Seven

Core Insights - Nvidia has experienced a significant decline, losing nearly a third of its value within two months after reaching a new high [1] - The stock has dropped about 5% recently, contributing to a broader downturn in the tech sector, with the Nasdaq Composite falling over 4% [2] - Concerns over tariffs and potential economic growth have negatively impacted technology stocks, including Nvidia [2] Company Performance - Nvidia's stock reached an intraday high of $153.13 on January 7, 2025, before experiencing a downturn [2] - The company has seen a market cap reduction of approximately 20% since President Trump's inauguration [1] Industry Context - The technology sector is facing challenges due to reliance on overseas parts and manufacturing, with new tariffs potentially increasing costs [2] - The Nasdaq Composite index is trading at a six-month low, indicating broader market concerns [2]