Nvidia (NASDAQ: NVDA) is down roughly 30% below its previous high. This isn't a new experience for the stock. Since its initial public offering (IPO) in 1999, Nvidia's share price has plunged by that amount or more from its previous peak eight other times.

Risk is back on, and Pony AI (Nasdaq: PONY) is galloping ahead by over 27% today after rising as much as 30% in the session. At $7 per share, PONY stock is trading at volume of over 13 million shares compared with an average of 2 million shares trading hands,