Shares of Nvidia remained volatile at Wall Street open on April 7, crashing 8.15 per cent to a day’s low of $86.62 apiece on the Nasdaq. The stock then quickly recovered and rose to a day’s high of $101.74 per share.

The stock movement of Nvidia was in alignment with the larger US markets, which initially opened lower and then recovered losses amid fears of a Black Monday fuelled by inflation and recession worries.

At 10:30 am EDT, the Nvidia stock was down 1.09% at $93.29 per share, according to MarketWatch.

Selling has been heaviest among big tech and consumer discretionary stocks, as per a Bloomberg report.

Since the S&P 500 index peaked on February 19, shares of Nvidia have gone down by 32 per cent.

On Monday, technology stocks were down 5.4 per cent during early tarde, with megacaps continuing to bear the brunt.

Wall Street’s main indexes fell sharply on Monday at US market open and the S&P 500 was on track to confirm a bear market. This comes as investors are seeking refuge in government bonds on economic worries over the fallout of US President Donald Trump’s sweeping tariff plans.

The S&P 500 fell 20 per cent from its record closing high logged in February, as per a Reuters report. If the index ends down 20 per cent from its all-time closing highs, it would confirm the index has been in a bear market since February, the news agency said.

However, White House economic adviser Kevin Hassett played down economic concerns over Trump’s tariffs, saying the president has talked to world leaders all weekend and will listen to proposals for “great deals”.

“The only reason the market is not down a little bit more is that it seems like there is potential for off ramp … the administration likes to make deals and likes to negotiate from position of strength,” Ross Mayfield, investment strategist at Baird, was quoted as saying by Reuters.

Trump announced hefty tariffs against US trading partners last week, prompting retaliation from China. The ensuing trade war has given rise to concerns of inflation in the country and a possible economic recession.

In the two sessions after the tariff decision, the S&P 500 has tumbled 10.5 per cent, erasing nearly $5 trillion in market value, marking its most significant two-day loss since March 2020.