Why Nvidia Stock Tanked Today
Shares of semiconductors star Nvidia (NASDAQ: NVDA) declined 4.4% through 12:12 p.m. ET Tuesday. That was about twice the decline suffered by the growth-stock-heavy Nasdaq index of companies, but it looks like both Nvidia and the Nasdaq, as a whole, are going down for the same reason.
Specifically, Fed Chairman Jerome Powell just told a Senate panel that the Fed is considering accelerating winding down its bond-buying program and concluding its tapering "a few months sooner" than previously expected.
Powell explained that "inflationary pressures are higher" than he had thought previously, and in order to combat this inflation, it may become necessary to shut down the federal money-printing presses that have been flooding the economy with cash for years.
Source Fool.com
