NVIDIA Corporation (NASDAQ:NVDA) shares are trading lower by 4.62% to $168.58 Thursday morning after HSBC initiated coverage on the stock with a Reduce rating and $136 price target.
Nvidia shares are also trading lower amid overall market weakness following Wednesday's Fed decision to raise interest rates by 50 basis points.
What Happened?
The Federal Reserve raised its target range for the federal funds rate by 0.5%, bringing the new target up to a range of 4.25% to 4.5%.
According to data from Benzinga Pro, NVDA has a 52-week high of $313.30 and a 52-week low of $108.13.
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