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Why Nvidia Stock Dropped This Morning

It’s the last of those three chip uses — mining cryptocurrency — that seems to be weighing on the stock. The People’s Bank of China, you see, just announced that it is banning all cryptocurrency transactions in the country, and in particular, banning Bitcoin and Tether from circulating in China. The move seems likely to weigh on Nvidia’s business, but I wouldn’t be too concerned for Nvidia stock despite the drop.

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