Nvidia shares have fallen 3.8% amid a broader decline in the Nasdaq, which is near its daily lows with a drop of almost 2%. Several key Nasdaq stocks are under significant pressure today:

– Broadcom (AVGO) down 5.1%
– Amazon (AMZN) down 3.3%
– Tesla (TSLA) down 3.0%
– Meta (META) down 2.3%
– Alphabet (GOOG) down 1.7%

Some of this selling appears linked to anticipation surrounding a delayed press conference by former US President Donald Trump. Concerns are mounting that his remarks could be provocative, heightening market anxiety. Additionally, recent statements from European sources suggest a firm stance on trade policies, including the possibility of pushing back against tariffs. While the situation remains fluid, these geopolitical tensions are contributing to market unease.

However, not all market moves can be attributed to tariffs or political events. Japanese bond yields surged today, which weighed on global fixed income markets. In the US, the yield on 30-year Treasury bonds increased by 7 basis points to 4.91%, negatively impacting rate-sensitive sectors such as home building. Reflecting this, the XHB Home Builder ETF has declined by 1.9%.

Meanwhile, gold prices have risen significantly, gaining $90 today to reach an all-time high of $4760, indicating a flight to safety amid market uncertainty.

Elsewhere in equity markets, major indices are also down:

– S&P 500 down 1.7%
– Russell 2000 down 0.6%
– Dow Jones Industrial Average down 1.5%
– Toronto TSX Composite down 0.7%

Looking ahead, Netflix is due to report earnings after the market close. Its shares are currently up 0.4%, likely driven by short-covering ahead of the results.

For forex traders, these developments underscore the importance of monitoring geopolitical events, bond market movements, and sector-specific pressures, all of which can influence currency volatility and risk sentiment.

Original Source: Adam Button of investinglive.com