TheDrop Market Analysis, 10/3/24

Stocks continued to plunge today as selling pressure expands.

Most index funds, from the Dow to the Nasdaq, plunged today as investors feared of negative results in the latest jobs report released by the U.S. government. Additionally, strikes along key intersections of trade along the East Coast continued, disrupting the economy.

As expected, most stocks are underwater, from big tech to big banking.

However, one stock remains strong in a field of red, Nvidia. Just like yesterday, the chip maker rallied to new highs as investors seek Nvidia's great potential returns. Nvidia recently acquired a technology company to advance its efforts in AI, and its CEO Jensen Huang labeled demand for his company's chips as "insane."