Nvidia fell 10% on Friday as markets prepare for Big Tech earnings next week

Nvidia's share price plunged 10% on Friday closing it's worst session since October 2022. The decline accounted for roughly half of the 0.9% drop in the S&P 500.

Meanwhile, shares of AMD, Micron Technology and Meta closed more than 4% lower during the session. Super Micro Computer, a beneficiary of the AI boom, closed down 23%.

Analysts stated that Friday's sell-off ha little to do with interest rates and is instead driven by investors pricing in slower earnings growth for tech companies. UBS analysts expect the so-called Big 6 to report EPS growth of 42.1% for Q1 of this year.