NVidia in free fall - without any reason except that it has been rising steadily for a long time. Strong earnings unnerved the market, a sign that people are very nervous and will react unreasonably.
"The selloff appears to be largely positioning-driven, with recent outperforming names taking the worst of the move," said Jon Withaar, senior portfolio manager at Pictet Asset Management in Singapore.There was no obvious trigger for the pullback, but it began with an unexpectedly negative reaction to strong financial results at Silicon Valley data and artificial intelligence firm Palantir Technologies. Pic.: Coffee Commerce, Pictet Collection.
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