The Nasday is now down neary 7% from the intraday high

The gains in US stock markets early today were based on hopes of a delay in tariffs or at least a delay in the 50% extra China tariffs. Instead, it looks like they will go ahead.

That’s led to a 7% intraday decline in the Nasdaq as a more than 4% gain has turned into a 2.2% loss. Amazingly, the index isn’t even close to yesterday’s low due to a huge reversal in the opposite direction yesterday.

Within the index, the volatility in Nvidia is breathtaking as it’s traded in a range of $86.62 to $105.85 and is now lower on the day.

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