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Good morning. Nvidia slumps into a correction, while Bitcoin rebounds from a slump. The Fed’s Daly warns of labor market risks. Here’s what people are talking about.
Nvidia’s spectacular surge is taking a breather. The chipmaker on Monday extended the sharp selloff that started soon after it briefly claimed the title of the world’s largest company by market value. Since then it has tumbled 13% across three sessions, past the 10% threshold that represents a correction. Traders are turning to technical analysis for clues on where the bottom may be after a $430 billion selloff. Still, the company at the heart of the AI revolution remains up almost 140% this year. For more on this topic, please read musings (below) from Garfield Reynolds.