Nvidia stock was hammered big time during the Nasdaq sell-off of 2022. Here's what Nvidia's growth and valuation may mean for what's happening now.

You can count on three things in life: death, taxes, and the stock market eventually experiencing a down period. Unfortunately, the latter is exactly what has happened with the Nasdaq Composite, as the index has fallen into correction territory.

The Nasdaq Composite is on pace to close in correction territory on Tuesday. The tech-heavy index was down 1.2% to 18,130.75. It traded as low as 18,125.54. Any close below 18,156.50 would replace a 10% drawdown from its latest high,