NVIDIA Corporation (NASDAQ:NVDA) shares are trading lower by 3.54% to $264.82 Wednesday afternoon. Shares of several companies in the broader tech sector are trading lower. Weakness may be due to concerns over a U.S. economic slowdown, which could negatively impact risk sentiment.
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What Going On With Economic Data?
The market got another hint of labor market weakness in the United States on Wednesday, as Automatic Data Processing, Inc. (ADP) reported 145,000 jobs added by private companies in March 2023, down from 261,000 in February and significantly below forecasts of 200,000.
“Our March payroll data is one of several signals that the economy is slowing,” said Nela Richardson, chief economist, ADP.
“Employers are pulling back from a year of strong hiring and pay growth, after a three-month plateau, is inching down.”…Read More
According to data from Benzinga Pro, NVDA has a 52-week high of $280.00 and a 52-week low of $108.13.
