Nvidia's Q3 earnings report was explosive, with the stock price rising 5.1% in pre-market, but what happened next?

Big reversal on Thursday. In the early session, the S&P 500 rose 1.4% and the Nasdaq rose 2.2%, looking like it was about to take off. By the afternoon, it plummeted directly - Nvidia ultimately fell 3.2%, the S&P 500 fell 1.6%, and the Nasdaq fell 2.2%.

Two major weapons: first, the market is beginning to doubt that the Federal Reserve will not cut interest rates in December, as the employment data released this morning shows some ambiguity in the labor market; second, the anxiety over the AI bubble still exists. A few days ago, hedge fund manager Michael Burry revealed his short positions on Nvidia and Palantir. Although Nvidia's financial report data is impressive, this panic sentiment is still weighing heavily.

To be honest, from a fundamental perspective, Nvidia is not in a bubble—GPU demand remains strong, and this guy is the leader in AI chips. But market sentiment can sometimes be more fierce than logic. Now we just have to wait and see how the market digests this contradiction next week.