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 The $3 trillion tech favorite has captivated investors, with its stock soaring about 750% since the start of 2023.

However, recent days have indicated that the company’s grip on Wall Street might be slipping, as a sudden bout of volatility briefly sent its shares tumbling.

Nvidia’s stock rebounded on Tuesday, but the episode reminded investors of a harsh reality: high-flying stocks can fall hard.

What’s happening: Nvidia has experienced a rollercoaster few months.

The chipmaker added a trillion dollars to its market cap, reaching $3 trillion in just 30 days from April 2024. To put this in perspective, it took Warren Buffett around 60 years to build Berkshire Hathaway into a nearly trillion-dollar company.

On June 18, Nvidia’s market value soared to $3.34 trillion, surpassing Microsoft to become the world’s most valuable company, with its stock seemingly on an unstoppable climb.

Why it matters: Nvidia is responsible for approximately 35% of the S&P 500’s total gains this year, according to Deutsche Bank analysts. This makes it one of the most influential companies ever listed on the S&P 500.

That’s why Nvidia’s sharp decline last week and on Monday was so shocking to investors. The stock lost a staggering $430 billion in value over just three days.

“First it was the Magnificent Seven. Then it was the Fab Four. Now, a single stock is driving most of the gains in the S&P 500,” said Jim Smigiel, chief investment officer at SEI.

Nvidia has been a compelling choice for investors.

“One question I get a lot is ‘why don’t I just put all my money in Nvidia.’ I cannot really argue with that question,” wrote Louis Navellier of Navellier & Associates in a recent note to investors.

Then came the drop.

“What we see with Nvidia is typical volatility, which is expected when a stock rises as quickly as Nvidia’s did,” Jochen Stanzl, chief market analyst at trading platform CMC Markets, told CNN on Tuesday.

But typical volatility can have major consequences when it involves a stock as prominent as Nvidia.

Emerging from the dip: Nvidia was the second-best performer in the S&P 500 on Tuesday, gaining nearly 7%, pushing its market cap back above the $3 trillion mark.

Still, the damage might already be done.

“Nvidia’s rich valuation is ludicrous — its market cap now exceeds that of the entire FTSE 100, yet its sales are less than 4% of that index,” said Emily Bowersock Hill, CEO and founding partner of Bowersock Capital Partners, referring to the 100 largest stocks listed in London.

Analysts at The Carlyle Group suggest that while artificial intelligence is transforming the world, the Nvidia stock bubble will eventually burst.

“The market seems quite adept at identifying transformational change but gets fixated on the hardware that facilitates it rather than the downstream value that hardware ultimately unlocks,” wrote Jason Thomas, Carlyle’s head of global research and investment strategy in a recent note.

Yes, but: Enthusiasm remains high.

“The fundamentals behind Nvidia’s growth remain the same,” Neil Roarty, an analyst at investment platform Stocklytics, wrote on Tuesday. “If you believe that the AI technology its chips are powering will completely recalibrate the global economy — and many do — then a $3 trillion market cap suddenly looks considerably more reasonable.”

The stock is up another 2.3% in premarket trading Wednesday.

Levi’s Under Fire After Supplier Laid Off Hundreds of Workers

Levi’s, a global brand that prides itself on standing up for “what’s right,” is facing scrutiny following a report from an independent labor monitoring group.

Critics accuse Levi’s (LEVI) of ignoring its own labor standards after continuing to work with a factory in Turkey that fired around 400 employees last year when they joined a union and went on strike over pay and working conditions.

Turkey is a crucial part of the global supply chain for apparel. The country exported about $30 billion worth of apparel and textiles last year, according to the Istanbul Exporters’ Association, a clothing industry group.

In a statement to CNN, Levi’s said it has “a longstanding commitment to supporting safe, productive workplaces for workers, and we take any allegations of efforts to curtail freedom of association extremely seriously.” The company continued sourcing jeans from the factory despite the mass firings to avoid further job losses, but the continuation of its relationship with the supplier depends “on management’s fulfillment of a detailed remediation plan that addresses freedom of association, working hours, and health and safety.”

Tractor Supply, the US farming retailer, has announced it will phase out all diversity roles and reverse its climate commitments in response to a recent social media campaign led by conservative influencers.

In a statement on Thursday afternoon, the Tennessee-based company acknowledged customer dissatisfaction, which had contributed to a 5% decline in its Nasdaq-listed share price over the past month.

The retailer, valued at nearly $30 billion, stated it will “retire” its current diversity and inclusion objectives while maintaining a respectful workplace environment.

This decision comes amidst increasing political pressures against corporate initiatives labeled as “wokeness” in the US. Several companies have scaled back public displays of support for events like Pride month following backlash from conservative groups, including Target, Disney, and Anheuser-Busch InBev. Additionally, major employers such as PwC have adjusted recruitment practices and withdrawn from public diversity commitments under similar pressure.

Tractor Supply indicated it will align future activities and sponsorships directly with its business interests, discontinuing support for Pride festivals and voting campaigns. The company plans to refocus efforts on initiatives related to animal welfare, veteran support, and community involvement.

Robby Starbuck, a film director and former Republican congressional candidate from Tennessee, initiated the social media campaign on platform X in early June. Starbuck criticized Tractor Supply for promoting diversity training, funding Pride events, and engaging in climate change activism, targeting both the company’s executives and its major investors.

 Trump Media & Technology Plunges Over 10% Following U.S. Presidential Debate

Shares of Trump Media fell sharply by more than 10% on Friday in the aftermath of the first U.S. presidential debate, marking yet another instance of the extreme volatility that has characterized its stock on Wall Street.

The owner of the Truth Social network saw its shares initially rise 5% at the opening bell, only to decline steadily throughout the day. Despite the setback, the stock managed to close the week with an overall gain of over 18%.

During the debate, President Joe Biden and former President Donald Trump engaged in heated exchanges on a range of issues including abortion, immigration, and the January 6, 2021 Capitol attack. Biden’s performance was viewed as uneven, especially in the early stages, as he attempted to challenge Trump on various fronts. Trump, in turn, responded by asserting falsehoods about the economy, immigration policies, and his involvement in the Capitol insurrection.

Following the debate, political futures markets saw a notable shift, with Biden’s odds of remaining the Democratic nominee dropping by 29%.

Citi analysts commented on Friday that Trump Media & Technology could attract heightened interest based on the debate’s aftermath in the news cycle.

Since its inception in late March, Trump Media’s stock, traded under the ticker symbol “DJT,” has been extraordinarily volatile, akin to other meme stocks known for their drastic price swings driven by retail investor speculation. The stock has seen significant intraday movements, reaching nearly $80 at its peak on March 26. In contrast, the broader market, as measured by the S&P 500, has posted a year-to-date gain of nearly 10%.

In its first earnings report as a publicly traded entity in May, Trump Media reported a loss exceeding $300 million for the previous quarter, underscoring the financial challenges facing the company amid its turbulent market performance.

Beginning July 1, 2024, employers across the United States will face a series of new laws impacting employment practices, focusing on areas such as background checks, data privacy, pay equity and workplace safety. These changes require immediate attention, prompting employers to update their policies and procedures to ensure adherence.

California Labor Code § 6401.9: Workplace Violence Prevention Plans

California now mandates that employers develop comprehensive workplace violence prevention plans under Labor Code Section 6401.9, integrating them into their Injury and Illness Prevention Plans. These plans must include strategies to prevent workplace violence, potentially involving thorough background checks. Additionally, employee training on these protocols is mandatory to ensure awareness and readiness. The initiative aims to enhance workplace safety by identifying and mitigating potential risks through pre-employment screening.

Colorado SB 58: Job Application Fairness Act

Effective July 1, 2024, Colorado’s Job Application Fairness Act prohibits employers from soliciting information during the initial application process that could reveal an applicant’s age, including details about educational attendance or graduation dates. This legislation aims to combat age discrimination and foster fairer hiring practices, necessitating revisions to job applications and interview procedures to comply with the law. Similar prohibitions already exist in California, Connecticut, Minnesota, and Pennsylvania.

New York City Workers’ Bill of Rights

New York City now requires employers to prominently display the multilingual “Your Rights at Work” poster and provide all employees, both current and new hires, with a copy of the Workers’ Bill of Rights on their first day. This document outlines crucial information about worker classification, job applicant rights, pay transparency, salary history bans, rights when using employment agencies, and the use of automated employment decision tools. By ensuring comprehensive employee awareness, this legislation aims to promote workplace fairness and transparency, regardless of immigration status.

South Dakota SB 12: Medical Cannabis in the Workplace

Under South Dakota’s SB 12, employers are not obligated to accommodate medical marijuana use in safety-sensitive job roles. The law affirms that employers can take adverse employment actions based on positive cannabis metabolite test results without fear of discrimination claims or wrongful termination lawsuits. This ensures employers can maintain safe and productive workplaces by enforcing drug-free policies.

Data Privacy Laws: Florida, Oregon, and Texas

Starting July 1, 2024, new data privacy laws in Florida, Oregon, and Texas will establish stringent standards for protecting consumer data collected by businesses. These laws aim to safeguard consumer privacy while providing exceptions for background checks conducted under the Fair Credit Reporting Act.

Florida SB 262: Florida Digital Bill of Rights (FDBR)

The FDBR applies to large for-profit entities in Florida handling personal data of state residents, particularly those deriving significant revenue from online ads, operating consumer-smart speaker services, or managing digital app platforms. It grants consumers rights to access, correct, delete, and opt out of personal data sales and targeted advertising. Enforcement rests with the Florida Attorney General, who can impose substantial penalties for non-compliance.

Oregon SB 619: Consumer Privacy Act (OCPA)

The OCPA applies to entities processing the personal data of Oregon residents, requiring clear privacy notices and granting consumers rights to access, correct, delete, and opt out of data sales and targeted advertising. Enforcement lies with the Oregon Attorney General, who can pursue penalties for violations.

Texas HB 4 (HB 1844): Data Privacy and Security Act (TDPSA)

The TDPSA applies to businesses processing personal data in Texas, granting consumers rights to access, correct, delete, and opt out of data sales and targeted advertising. Enforcement is overseen by the Texas Attorney General, who can seek various remedies for non-compliance.

These new laws, effective July 1, 2024, demand comprehensive updates to employer policies and practices across multiple states. Immediate action is essential to ensure compliance and mitigate potential legal risks.

Emerging food trends seem to be taking a step back in time, reminiscent of the caveman diet: fish is the hottest protein, honey is the flavor of the moment, and game meat is making its way onto charcuterie boards.

These trends were highlighted at the Summer Fancy Food Show, a trade event hosted by the Specialty Food Association, known for showcasing upcoming flavors, foods, and beverages that will soon dominate menus and grocery store shelves. This annual show returned to the Jacob K. Javits Convention Center in New York, running from Sunday to Tuesday.

Over 2,400 companies exhibited their products to attendees, including restaurant operators, specialty food retailers, and trendspotters. Past trends from this show, like yuzu, mushrooms, and sophisticated alcohol substitutes, are now popular with mainstream consumers.

The show has also served as a launching pad for small brands aiming for a broader audience. Companies like Honest Tea, Ben & Jerry’s, and Tate’s Bake Shop participated in their early days before becoming well-known consumer brands now owned by major industry players.

Here are some highlights from this year’s Summer Fancy Food Show:

Honey as a Flavor

While honey has been a staple for thousands of years, it’s now emerging as a key flavor in foods and beverages. The SFA’s trendspotters highlighted honey for its health benefits. Honey starred in both food and drinks, with Green Bee showcasing honey soda, including a Honeycomb Cider flavor. Owl Creek Organics & Natural Flavors displayed honey spreads in flavors like caffe mocha and lemon poppyseed. Dutch company Klepper & Klepper used honey to flavor their licorice.

Tinned Fish

Once primarily found in the Spanish and Portuguese pavilions, tinned fish products were prevalent across the show floor this year. TikTok fueled the trend last year, boosting sales of canned sardines. Now, specialty food companies are innovating with more flavors, varied seafood, and trendier packaging. Wildfish Cannery, an Alaska-based company, introduced a retro design for its sockeye salmon. Krill Arctic Foods showcased canned krill meat, emphasizing its nutritional benefits.

Fish to Go

Exhibitors presented new ways to enjoy fish on the go, catering to consumers’ desire for convenience and protein-rich diets. The association identified “satisfying snacks” as a notable trend. Acme Smoked Fish introduced Lox in a Box snack kit, available with cream cheese or avocado. Legend of Master International offered Kani fish cake sticks, designed to be eaten like string cheese or used in cooking.

Upgraded Charcuterie

Charcuterie boards have gained popularity on social media, where users showcase elaborate displays of preserved meats, cheeses, and fruits. Companies at the show presented new options to enhance charcuterie, especially salami. Tempesta Artisan Salumi offered black truffle-flavored salami, while Salt & Twine included a mezcal and salted lime flavor. Beyond pork, Driftless Provisions’ salami featured elk, venison, and bison, while Fossil Farms’ lineup included lamb and wagyu beef.

Pairing Snacks

For those who enjoy snacks with their drinks, Wine Chips and The Drinks Bakery presented their products designed to pair with specific alcoholic beverages. The Drinks Bakery, a Scottish company, sells “drinks biscuits” such as parmesan, toasted pine nuts, and basil biscuits, which pair with around 20 different drinks. Wine Chips offers thick-cut potato chips tailored for wine pairing, like the Sel Gris flavor, intended to complement sparkling wines like Champagne.

 The Biden campaign has raised $27 million from the day of the first presidential debate through Friday evening, a campaign spokesperson announced on Saturday.

This figure comes amidst President Joe Biden’s post-debate fundraising efforts, aiming to keep pace with former President Donald Trump’s recent surge in donations.

In May, the Biden campaign, the Democratic National Convention, and Biden-affiliated PACs and committees collectively raised $85 million, falling short of Trump’s $141 million haul in the same month despite his conviction on 34 felony charges.

The post-debate fundraising push also aims to reassure donors that Biden can still secure a Democratic victory in November, despite his stumbling performance at Thursday’s first debate against Trump.

Following the 90-minute debate in Atlanta, Biden traveled to Raleigh, North Carolina, on Friday to hold a rally where he spoke with renewed energy and acknowledged his debate missteps.

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“Folks, I don’t walk as easily as I used to. I don’t speak as smoothly as I used to. I don’t debate as well as I used to. But I know what I do know: I know how to tell the truth,” he said.

After North Carolina, the president flew to New York to deliver remarks at the Stonewall National Monument Visitor Center in honor of Pride Month. Later that evening, he attended several campaign receptions.

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Biden will continue his fundraising efforts with more receptions on Saturday in New York and New Jersey before returning to Camp David later in the evening. These events are expected to boost the $27 million fundraising total.

The Biden campaign has not yet responded to inquiries about how much of the new fundraising came from grassroots donors online versus higher-dollar donors.

Since Thursday’s debate, Democrats have been working to mitigate the fallout from Biden’s performance. Supporters, including former Presidents Barack Obama and Bill Clinton, have addressed the debate blunders while urging voters to look beyond them.

However, some Democratic strategists are calling for Biden to withdraw from the presidential race and transfer his delegates to a new candidate.

Biden and Trump are scheduled to debate again on September 10, offering Biden a potential opportunity to improve his standing with voters, many of whom are concerned about his age and ability to handle a second term.