US markets staged a dramatic reversal from the post-Nvidia-result-rally to end with steep cuts on Thursday as a combination of resurfacing of the AI valuation concerns, dwindling Fed rate cut hopes and statements from some Wall Street veterans dampened the positive sentiments.

The Dow Jones fell over 1,100 points from the highs of the day to end nearly 400 points lower. The S&P 500 fell 232 points from the day's high, while the Nasdaq also corrected over 1,000 points from the highs of the session to end with losses of over 2%.

Losses on the Nasdaq were led by Nvidia, whose shares fell 8% from the day's high to end with losses of over 3%. While analysts on the street projected targets of as high as $350, Deutsche Bank said that the stock is "fairly valued" and leaves little room for disap

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