Benzinga | Sep 27, 2021 11:06AM EDT

Why Nvidia Shares Are Falling

NVIDIA Corporation (NASDAQ:NVDA) shares are trading lower by 2.2% at $216.06 amid overall market weakness as growth stocks dip on a rise in the 10-year treasury yield.

The 10-year Treasury yield hit an intraday high of 1.517% Monday morning before dipping to around the 1.484% level. The move in the 10-year note comes after the Federal Reserve last week spoke on winding down its ongoing asset purchasing program.

Nvidia is a leading designer of graphics processing units that enhance the experience on computing platforms. The firm's chips are used in a variety of end markets, including high-end PCs for gaming, data centers, and automotive infotainment systems.

Nvidia has a 52-week high of $230.43 and a 52-week low of $115.66.