The writing has been on the wall for some time that the giant deal would probably not go through because of regulatory concerns. 25, shares fell 4.5% following news reports opining that Nvidia would likely abandon its attempt to acquire leading mobile-chip designer Arm.
That said, last month, there was one piece of company-specific news that moved Nvidia stock. Moreover, in general, higher valued tech stocks - a category in which Nvidia belongs - suffered the most. This group includes technology growth stocks, such as Nvidia. Interest-rate sensitive stocks were especially hit hard. The market's struggle last month stems from the anticipation that the Federal Reserve will soon begin raising interest rates and that there will be several rate hikes in 2022. The S&P 500 and tech-heavy Nasdaq Composite indexes were down 5.3% and 9%, respectively, last month.
Market dynamics, rather than company-specific news, was the main driver behind shares of the graphics processing unit (GPU) specialist dropping in January.
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