Why was NVDA going down

Nvidia's stock decline can be attributed to a combination of factors:

1. Market Reaction to Earnings: Despite reporting revenues, revenue outlook, and profits that beat consensus expectations, Nvidia's stock initially declined by 2.1% following the Q2 results announcement. This could be due to investors adjusting their expectations after a period of extended gains, as is often seen in the semiconductor industry.
2. Design Flaw Concerns: Nvidia's stock was also affected by reports of a design flaw in its next-generation AI chips, Blackwell. Although the company clarified that the issue was mainly about increasing production yields rather than altering the chip's architecture, such concerns can lead to volatility in stock prices.
3. Regulatory and Economic Uncertainties: The broader market's rotation out of big technology companies into smaller firms, as well as the Fed's policy decision on interest rates, can create a challenging environment for high-growth tech stocks like Nvidia.
4. Historical Market Trends: September has historically been a challenging month for the stock market, with major indices often recording significant losses. This could contribute to the market's sentiment towards Nvidia's stock.
5. Short-Term Volatility: With options trading volume high and implied volatility at 55, the stock is experiencing significant price movement, which can be driven by a variety of factors including investor sentiment, earnings reports, and broader market conditions.

In summary, Nvidia's stock decline is likely a result of a combination of factors including market reactions to earnings, design flaw concerns, regulatory and economic uncertainties, historical market trends, and short-term volatility.