Tuesday, December 5, 2017

Nvidia tanks 6% on cryptocurrency concerns

 Nvidia stock fell nearly 6%  in Monday's trading and closed at $ 186.66. The  stock has fallen 8% over the last five trading days as speculation rose  that  the  cryptocurrency “arms race” may be ending.

 Analysts now expects a slowdown in sales to cryptocurrency “miners,”  who use  fast graphics cards to find decryption keys for things like Bitcoin.  This hit  Nvidia stock hard in the most recent trading week.

Also added to the woes of tech stock is the proposed tax reforms where in the high tax rate and domestic-facing sectors have the most to gain from corporate tax reform, while low tax sectors such as info tech and health care stand to benefit the least. 

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