Nvidia stock slides 7.3% in 4 sessions, below 200-day average

Key takeaways

• Nvidia (NVDA) fell 1.26% to $202.06 at the Nasdaq close (21:00 UTC) on Monday, Nov. 2, 2026, its fourth straight daily loss and a cumulative drop of 7.29% from the Oct. 27 close of $217.94, according to daily price data from StockAnalysis and Yahoo Finance.
• The Nov. 2 close left the stock about 1.2% below its 200-day moving average of 204.46 and 15.5% below its record close of $239.24 on Oct. 6.
• The largest leg of the slide came on Friday, Oct. 30, when Nvidia fell 4.22% after Intel's weak fourth-quarter outlook triggered a broad chip selloff, according to CNBC and Reuters.
• On Nov. 2, Nvidia gave up a premarket gain as investors sold technology shares over AI spending and financing worries, CNBC reported. No Nvidia-specific cause for the four-day decline has been confirmed.
• In Kuala Lumpur, chip-related stocks including ViTrox and Mi Technovation fell on Nov. 2 even as the FBM KLCI closed 0.24% higher, local reports showed.

Nvidia stock closed at $202.06 on Monday, Nov. 2, 2026 (21:00 UTC), down 1.26%. It was the fourth losing session in a row, a 7.29% slide in total, and it pushed the AI chipmaker below its 200-day moving average.

The move matters beyond Wall Street. Nvidia is the reference stock for the AI hardware trade, and the same selloff that hit it on Oct. 30 and Nov. 2 also weighed on semiconductor-related shares in Malaysia. This analysis looks at the multi-session trend, what the sources say caused it, and which dates and levels market participants are watching next. For the earlier phase of this decline, see our report on the Nvidia stock correction in October.

Nvidia stock trend in numbers

The table below uses daily closing prices from StockAnalysis (data from S&P Global Market Intelligence) and Yahoo Finance. Moving averages and percentage changes are Bullquill calculations from those daily closes. All figures are data as of the Nasdaq close at 21:00 UTC on Nov. 2, 2026, unless stated otherwise.

Two technical details stand out. First, the stock had already closed below its 50-day average on Oct. 22, when it ended at $212.21 against a 50-day line of 222.77 but stayed above the 200-day line, then at 203.56. Second, the 200-day average has kept rising slowly, from 203.56 to 204.46, while the share price fell through it. A close below a rising long-term average is often read as a sign that momentum has weakened, though it says nothing certain about the next move.

Volume on Oct. 30 was about 62.7% above the 30-day average of 103.5 million shares, Gotrade reported, which shows that the heaviest selling day of the streak was also the busiest.

Why Nvidia stock is falling

Oct. 30: Intel's outlook sets off a chip rout

The sharpest drop came on Friday, Oct. 30. Intel forecast fourth-quarter revenue of $15 billion to $16 billion and adjusted earnings of 25 cents per share, below analyst expectations of $17.1 billion and 43 cents, according to CNBC, which cited LSEG data. CNBC said Intel also pointed to an extended shutdown at a plant in Israel and to softness in the PC market. Intel shares fell about 29%, their worst day since the 1970s, CNBC reported.

Reuters, in a report carried by Investing.com, said the warning "triggered a global chip rout" as investors weighed weakening PC demand and the rising cost of the AI boom. Reuters said Nvidia was among chip stocks that fell between 4% and 12%, alongside AMD, Arm, Qualcomm, Broadcom and Micron. Matt Britzman of Hargreaves Lansdown told Reuters that the market was in a "sell first, ask questions later mood right now."

Nvidia also has a direct link to Intel. CNBC reported that the value of Nvidia's stake in Intel fell by about $6 billion on Oct. 30. The Nasdaq Composite fell 2.86% to 25,437.00 that day, according to Gotrade's market data, while CNBC put the decline at 2.9%. Our report on the Nasdaq slide after Intel's plunge covers that session in detail.

Oct. 28 and Oct. 29: smaller losses amid Big Tech earnings

Nvidia's losses on Oct. 28 (-1.17%) and Oct. 29 (-0.80%) were smaller. They came during a heavy week of Big Tech earnings: CNBC reported that Alphabet fell more than 12% on Thursday, Oct. 29, its worst day on record. Bullquill found no report that tied Nvidia's declines on those two days to Nvidia-specific news, so the cause of those two moves has not been confirmed.

Nov. 2: AI financing worries and a tech rotation

On Monday, Nov. 2, Nvidia was up 1.5% in premarket trading before reversing lower, CNBC reported. CNBC said investors rotated out of technology stocks over concerns about AI spending. The Nasdaq Composite fell 1.07% to 25,164.32 and the S&P 500 fell 0.51% to 7,541.40, while the Dow rose 213.67 points.

Financing headlines added to the pressure. Oracle filed to sell $10 billion in common stock and $10 billion in senior notes to fund its AI buildout, and its shares closed about 8% lower, according to CNBC. Yahoo Finance, citing Bloomberg, reported the same $20 billion capital raise. Yahoo Finance also reported that BofA Global Research described a sustained AI-trade correction as "one of the larger risks to the US and global economy," and said AI stocks had lost about $5 trillion in market value over three weeks.

Taken together, the sources describe a sector-wide move driven by doubts about the returns on, and the funding of, AI infrastructure spending. Gotrade, reviewing coverage of the Oct. 30 session, said none of the reports it reviewed pointed to Nvidia-specific news. Our earlier explainer on why chip stocks slumped on AI cost worries covers the first phase of this debate.

What it means for ASEAN investors

The weakness in technology shares was also visible on Bursa Malaysia. On Nov. 2, the FBM KLCI fell 0.44% to 1,608.57 by 09:17 Malaysia time (01:17 UTC), with Malaysian Pacific Industries, ViTrox, KESM Industries and Mi Technovation among early decliners, The Star reported. Malacca Securities said the market could trade cautiously amid "weaker global technology sentiment," according to the same report.

The broader index recovered. The FBM KLCI closed 3.91 points, or 0.24%, higher at 1,619.51 on Nov. 2, Malay Mail reported, as bargain hunting in telecommunications and commodity-related heavyweights supported the market. Technology stocks stayed weak: ViTrox fell 42 sen to RM10.48, Mi Technovation lost 23 sen to RM6.30 and Pentamaster fell 20 sen to RM5.47, according to Malay Mail. Neither The Star nor Malay Mail named Nvidia as the cause of these moves; both attributed them to weaker global technology sentiment and doubts about AI investment. For the full regional picture, see the ASEAN stock market close.

Key levels and dates being watched

• 200-day moving average (204.46): the long-term trend marker that the stock closed below on Nov. 2.
• Oct. 30 intraday low ($200.92): the lowest price of the streak so far, according to StockAnalysis data.
• Record close ($239.24, Oct. 6): the peak from which the stock is now 15.5% lower.
• Nov. 17, 2026 earnings: Nvidia said it will hold a conference call on its third-quarter fiscal 2027 results, for the quarter ended Oct. 25, at 2 p.m. PT (22:00 UTC) on Tuesday, Nov. 17, according to a company release dated Oct. 28.

What we know and what we don't know yet

What we know: Nvidia closed lower in four straight sessions from Oct. 28 to Nov. 2, losing 7.29%, and ended below its 200-day average. The largest drop followed Intel's outlook on Oct. 30, according to CNBC and Reuters. The Nov. 2 decline came during a broad technology selloff linked to AI spending and financing concerns, according to CNBC and Yahoo Finance.

What we don't know yet: No company announcement or filing from Nvidia has been reported as a cause of the four-day decline. Nvidia's own results for the quarter ended Oct. 25 will not be published until Nov. 17. It is not yet known whether the selling in Malaysian chip-related stocks will continue; local brokers cited global sentiment rather than company-specific news.

What it means

The four-day slide turns Nvidia's October correction into a deeper pullback, now 15.5% below the record close, and puts the stock under both its 50-day and 200-day averages. The sources point to sector-wide pressure: a weak outlook from Intel, worries about how Big Tech will pay for AI infrastructure, and new stock and bond sales such as Oracle's. For investors in ASEAN, the Nov. 2 session in Kuala Lumpur showed that this pressure reaches local semiconductor stocks even when the main index holds up. The next company-specific test is Nvidia's Nov. 17 results. Daily US market moves are tracked in our US stocks daily brief.

This article is for information only and is not investment advice.