Nvidia shares fall 5% to a US session low, dragging down the broader market

Shares of Nvidia are dragging down the broader indexes as they fall 5.4% to the lowest in regular trading. NVDA is down $6.65 to $118.95 as the market (and the options market) continues to digest yesterday’s earnings report.

A host of analysts have boosted price targets since the release but the market hasn’t cooperated. There was some brief buying rigth at the market open but the trend has been lower since and accelerated in the past 30 minutes on a break below $120.

The post-market low yesterday was $115.01.

The drop in Nvidia shares coincides with a decline in the broader market after some strong buys earlier. The S&P 500 is now up 17 poitns to 5609 after rising as high as 5646 early in the US afternoon.

The FX market has largely ignored these latest moves.

This article was written by Adam Button at www.forexlive.com.