Stocks lose steam as Nvidia optimism fades, yields slip

NEW YORK/LONDON (Reuters) – A gauge of global equity markets lost steam on Friday but still set a new high amid optimism over Nvidia’s potent results, while Treasury yields fell as the market bet that the Federal Reserve will not cut interest rates until at least June. Wall Street mostly extended gains as Nvidia briefly shot above $2 trillion in market value for the first time, driven by the AI frenzy that has gripped investors since the chipmaker’s blockbuster quarterly earnings report two days earlier. Nvidia’s shares jumped 4.9% to a high of $823.94, before paring gains to trade up about 1.7%. Investors worry valuations may be stretched after a rally that has lifted the S&P 500 more than 7%…