Nvidia's stock took a heavy hit, and that's rattling the whole market — bad news for anyone holding tech stocks, 401(k)s, Bitcoin, or precious metals.

• Nvidia shares dropped sharply in early trading, wiping out hundreds of billions in market value, after CEO Jensen Huang's exit left Wall Street guessing who can run the company next.
• Multiple banks cut their price targets or downgraded the stock, even as many analysts still called it "too cheap to sell" — a sign of real confusion about where it goes from here.
• The selloff spread beyond Nvidia: stocks broadly dipped by the end of the day, and Bitcoin, gold, and silver all fell too, suggesting investors are pulling back across the board, not just dumping one stock.
• Government bond yields jumped overnight, which pushes borrowing costs up — a signal markets think the Fed may need to raise rates instead of cutting them, which would be bad for stocks and the economy generally.
• Nvidia has become central to the "Magnificent Seven" tech rally, so continued weakness there could drag down major indexes tied to it.

Outlook: Expect more volatility and possibly more bad headlines in the coming weeks as uncertainty over Nvidia's leadership and rising borrowing costs weigh on stocks, crypto, and metals alike.