NVIDIA Corporation NVDA shares are trading lower by 3.54% to $264.82 Wednesday afternoon.Shares of several companies in the broader tech sector are trading lower. Weakness may be due to concerns over a U.S. economic slowdown, which could negatively impact risk sentiment. Also, in a research paper, Google said itsTPU v4 is stronger than the NVIDIAA100, which could be negatively impacting the stock, as well.

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What Going On With Economic Data?

The market got another hint of labor market weakness in the United States on Wednesday, asAutomatic Data Processing, Inc. (ADP) reported 145,000 jobs added by private companies in March 2023, down from 261,000 in February and significantly below forecasts of 200,000.

"Our March payroll data is one of several signals that the economy is slowing," saidNela Richardson, chief economist, ADP.

"Employers are pulling back from a year of strong hiring and pay growth, after a three-month plateau, is inching down."…Read More

According to data fromBenzinga Pro, NVDA has a 52-week high of $280.00 and a 52-week low of $108.13.