Nvidia experienced a significant trading day with a dramatic reversal, marking its largest percentage drop since May 31st, 2023, with the stock down 6%. The stock swung from a 4% gain to a 2% drop, contributing to the S&P 500 and Nasdaq pulling back from record highs. Nvidia's market cap decreased by $129 billion during the day. Despite the volatility, Nvidia is still up over 77% YTD and remains a key player in the semiconductor industry, which has seen its ratio to the S&P 500 reach its highest level since 2000. The market's focus on Nvidia reflects its critical role in the current AI-driven market rally, with its performance closely watched by investors.