Nvidia (NASDAQ:NVDA) shares dropped more than 9% on Tuesday, closing at $108 each, marking the AI chipmaker's worst performance among the "Magnificent Seven" stocks.
The decline, which brought Nvidia to its lowest level since August 12, occurred on the first trading day of the month as the overall market faced significant losses.
Stacy Rasgon, a senior analyst at Bernstein, commented on the widespread nature of the market downturn, stating, "I don't think it's down on isolation; lots of things are down today."
Technology stocks led the market decline, followed by energy and industrials.
This downturn comes less than a week after Nvidia released its quarterly earnings, which surpassed consensus estimates but failed to boost its stock price.