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Nvidia is getting hit harder than the rest of the tech sector (NVDA) http://ift.tt/2inYATc Thomson Reuters
The slide on Wednesday continues Nvidia's fall from the previous day, which came after Mizuho analyst Vijay Rakesh called an end to the crypto boom for Nvidia and other graphics chip makers. Nvidia's graphics cards are often used by cryptocurrency "miners" to try and speed up their systems, and the company has seen increased demand as cryptocurrencies skyrocket in value. Bitcoin and other cryptocurrencies have hit several major milestones this week, including bitcoin's crossing of $10,000 per coin for the first time ever on Tuesday. Nvidia's declines are more than double many of the larger tech companies that also saw a decline on Wednesday. The tech-heavy Nasdaq 100 index was down 1.57%, and the FANG stocks were all down around 3% as investors likely rolled their tech investments into other areas. Nvidia is up 95.17% this year, despite the recent declines. Read more about the end of the crypto boom for Nvidia and AMD.Markets Insider NOW WATCH: Tesla's biggest problem is one nobody saw coming See Also:
SEE ALSO: MIZUHO: The crypto boom is over for AMD and Nvidia Business via Business Insider http://ift.tt/eKERsB November 29, 2017 at 01:18PM
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