Shares of several companies in the broader tech sector, including NVIDIA Corporation (NASDAQ:NVDA), are trading lower amid market weakness as traders continue to digest Wednesday’s Fed rate hike announcement. A gain in treasury yields has weighed on technology and growth stocks.
The Federal Reserve last Wednesday raised its target fed funds rate by 0.5% on Wednesday to a new range of between 0.75% and 1.0%, its first rate hike of at least half a percentage point in more than 20 years.
See Also: Apple Said To Be Planning Instacart-Like Service And This Would Be The X Factor
Nvidia is a top designer of discrete graphics processing units that enhance the experience on computing platforms.
According to data from Benzinga Pro, Nvidia has a 52-week high of $346.47 and a 52-week low of $134.59.
