NVIDIA shares are down 1% currently due to reports of a Justice Department investigation

NVIDIA's stock price fell by about 1% before the opening on Thursday, trading at nearly $213.83. Previously, there were reports that the U.S. Department of Justice was reviewing its proposed $12.9 billion deal to acquire the AI platform Hugging Face.

The report states that the review mainly centered around concerns that this transaction could give NVIDIA an unfair advantage in the field of artificial intelligence. Neither NVIDIA nor the U.S. Department of Justice has commented on this report.

The broader sell-off in technology stocks also put pressure on stock prices, with the NASDAQ 100 index futures falling by 1.22%, while Alphabet tumbled by more than 10% after announcing negative free cash flow.

From the chart, NVDA needs to rebound to $216 again in order to have a chance of moving upwards towards $220; if it falls below $210, then the range between $205 and $208 will become the focus of attention.

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