Stocks See Early Losses Trimmed As Meta Slumps, Nvidia Recovers; Bitcoin Hits Record Before Key Inflation Data
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Major indexes dropped sharply at the open but quickly trimmed losses in early trading. Meta Platforms got hit hard while Nvidia managed a reversal.
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Nvidia recently grew past $2 trillion in market value. The megacap tech may be due for a pullback after a big rally.
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Bitcoin surged to a record high. The iShares Bitcoin Trust, a new spot Bitcoin price tracker, jumped to new highs.
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Investors are bracing for fresh consumer price inflation data out on Tuesday.
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Meta has helped lead the tech advance since November. The stock is approaching a possible new entry point if it tests the 10-week moving average.