Nvidia earnings and AI valuation jitters are driving a pullback in major growth names and lifting scrutiny on cyclical consumer names. In the short term, investors are reallocating ahead of Nvidia’s report and digesting weak retail and home-improvement results. Over the long term, AI spending and cloud partnerships could re-rate winners, while persistent homeowner conservatism points to slower durable-goods demand. The US market led declines, Europe tracked lower on tech

Nvidia Report Tests Tech Stocks as Home Depot Cuts Guidance. U.S. equities slid as investors braced for Nvidia’s quarterly report while weak consumer data from Home Depot (NYSE:HD) and a sell-off in Amazon (NASDAQ:AMZN) amplified pressure. In the short term, earnings and AI-valuation headlines are driving volatility; over the long run, margins at retailers and cloud-capex trends will determine where cyclical and tech sectors settle. The moves matter for the