Nvidia announced on Monday that it will participate at Deutsche Bank's Auto Tech Conference on Thursday, December 9, while the company will also attend JPMorgan's Tech/Auto Forum on Wednesday, January 5. This was a time for risk to be taken but only into strong stocks. Laggard stocks were punished, Peloton (PTON) for example slumped over 4% on Monday. Nvidia is already nearly up 140% year to date, but that did not deter investors piling into the name on Monday. This was not a case of Cyber Monday bargain hunting, rather investors overlooked stocks that have been struggling and instead bought up some already high-flying names. Nvidia surged higher on Monday as risk-on sentiment bought up most stocks, but particular attention was paid to clear 2021 winners. Adding to the dour mood, the Omicron covid variant concerns intensified on Moderna Inc.’s warnings against the vaccine efficacy. Powell underscored inflationary concerns, adding that speeding up of tapering could be on the table at the central bank’s December meeting. Shares of semiconductors star Nvidia bore the brunt of the broader market sell-off after Nasdaq Composite Index (NASDAQ) tumbled 1.55% on US Federal Reserve Chair Jerome Powell’s hawkish comments. Update: Nvidia (NVDA) fell 2.10% on Wednesday, correcting from four-day highs to settle at $326.76. NVDA is set to end the year at all-time highs.Wall Street plunged to fresh November lows at the end of the month.Nvidia stock turned south on Tuesday as risk-off rules.
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