Nvidia Stock Wipes Out Earnings Gains, Down 6%

Nvidia’s blockbuster earnings win lit a fire under the market early Thursday, sending the chipmaker up as much as 5% to an intraday high near 196 and helping drive a 718 point surge in the Dow Jones industrial average. That early optimism did not last. As the session wore on, Nvidia’s rally faded and flipped into a loss of more than 3%, taking the air out of the broader advance even as a long delayed jobs report provided what, at first, looked like solid support for stocks.

By the closing bell, the Dow had swung sharply lower, finishing down nearly 387 points, or 0.8%, and pulling the other major indexes into the red with it. The day was not a washout across the board, though. Within the Dow, Walmart stood out as a clear winner, jumping 6.5% and topping the index, even as heavyweight tech and AI names like Nvidia turned from market hero to late day drag.