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- US stocks tumbled Thursday after an early Nvidia-led rally lost momentum and turned negative.
- Nvidia stock soared to an all-time high after the company beat earnings views and raised its guidance.
- Investors will be watching for Jerome Powell's speech Friday at Jackson Hole, Wyoming.
US stocks closed lower Thursday, after an early Nvidia-led rally lost momentum and turned negative.
Late Wednesday, Nvidia reported blowout earnings and raised its guidance. The chipmaker's stock soared as high as 6.7% to a new all-time record of $502.66, before paring nearly all of its gains.
US bond yields resumed their march higher after pulling back Wednesday. That came as Boston Fed President Susan Collins said more rate increases may be needed, while Philly Fed President Patrick Harker said "we've probably done enough."