Nvidia's Market Rally Stumbles Amid Revenue Concerns

Nvidia's stock tumbled as the company's revenue forecast failed to impress, dragging down U.S. stock index futures. Despite topping profit expectations, Nvidia's slowest revenue growth in seven quarters spurred investor concerns, with the sentiment extending to other tech and chip stocks.

Nvidia's revenue forecast disappointed investors, leading to a dip in U.S. stock index futures on Thursday. The technology giant, despite surpassing profit expectations, reported its slowest revenue growth in seven quarters. This alarmed market participants, causing Nvidia's shares to fall significantly in premarket trading.

The ripple effect of Nvidia's forecast impacted other technology stocks, as Broadcom, Qualcomm, and Advanced Micro Devices also saw declines. Moreover, key growth stocks like Microsoft and Apple noted marginal drops, amplifying the cautious sentiment among investors.

In a broader market context, geopolitical concerns involving Russia and Ukraine, and anticipations around the Federal Reserve's interest rate decisions, added complexity to investors' outlooks. Notably, the cryptocurrency sector experienced a surge with bitcoin reaching unprecedented price levels, offering a counterbalance to the tech sector's waning enthusiasm.

(With inputs from agencies.)