All eyes are on Nvidia's stock, so what's been going on?

abcnews.go.com:

Nvidia shares rebounded Tuesday, halting a three-day skid that had surprised many investors and wiped away more than $400 billion in market value

Nvidia shares rebounded Tuesday, halting a three-day skid that had surprised many investors and wiped away more than $400 billion in market value.

Early last week, Nvidia overtook Microsoft as Wall Street’s most valuable public company. Then it fell 13% over three days, its worst such stretch since 2022. Because Nvidia has become so massive in size, the movements for its stock carry extra weight on the S&P 500 and other indexes.

Any stock that climbs as much as Nvidia has — up more than 1,000% since the autumn of 2022 — is vulnerable to some of its investors selling shares in order to lock in some profits. That earlier run makes a 13% drop over three days look like a relative trifle.

Monday, Nvidia shares rose 6.8%, bringing its market value to $3.10 trillion, behind Microsoft at $3.35 trillion and Apple at $3.21 trillion.

Those three companies and a few others are responsible for much of the S&P 500’s returns recently. Investors would prefer a market where many stocks are participating in the gains.

There’s been nearly insatiable demand for Nvidia’s chips to power artificial intelligence applications and the company has played a big role in the U.S. stock market’s recent record runs even as the economy’s growth slows under the weight of high interest rates. But the AI boom is moving at such a rapid pace that it’s raised worries about a possible bubble in the stock market and too-high expectations among investors.

Derren Nathan, head of equity research at Hargreaves Lansdown, said in a statement that while Nvidia's stock has declined in recent days, one must also look at