After peaking on Dec. 16, the Nasdaq Composite -- which tracks almost every stock trading on the Nasdaq stock exchange -- has entered into a correction. The index is down around 9% year to date and 13% from its December peak.

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.

It's been a challenging time for investors, as the Nasdaq Composite (NASDAQINDEX: ^IXIC) has plunged into correction territory -- falling by more than 13% over the past three weeks. Many Americans were already worried about the stock market leading up to this sudden dip.

The market has taken a sharp turn for the worse in recent weeks. The tech-focused Nasdaq Composite (NASDAQINDEX: ^IXIC) plunged into correction territory this week, with the S&P 500 (SNPINDEX: ^GSPC) and the Dow Jones Industrial Average (DJINDICES: ^DJI) not far behind.