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        Nvidia plunges amid US export restrictions on AI chips to China: A good buy or goodbye?
        Views 231K Contents 134

        Market Summary 18th October

        Market summary 17/10/2023
        Market summary 17/10/2023


        Today, the stock market had a rough start. The U.S. government decided to limit the sale of specific computer chips to China, which negatively impacted the company $NVIDIA(NVDA.US)$ . As a result, its stock price dropped sharply. Meanwhile, another group of stocks, represented by the Russell 2000, had an up-and-down day. They started low, rose significantly, but then ended the day with just a little gain. This kind of unpredictable movement in stock prices can be challenging for most investors, except for those who buy and sell on the same day (day traders).

        One positive thing we noticed is that many stocks held up well even with the bad news about NVDA. However, on the downside, while stocks did okay, certain bonds (high-yield bonds) didn't perform as expected. This unusual difference between the stock and bond market is something we should be cautious about.

        It's essential to be very careful in this unpredictable market. It reminds me of the market back in 2011/2012, which was also influenced heavily by news. But those who stayed patient during that time did well the following year. Now, with the upcoming earnings season, where companies announce their profits, things might get even trickier. For example, two leading companies, $Novo-Nordisk A/S(NVO.US)$  and $Eli Lilly and Co(LLY.US)$ have potential investment opportunities, but their earnings reports are coming up soon. So, we have to consider whether it's worth investing in them before those reports come out.
        Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only. Read more
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