Nvidia stock could erase 2023 gains, drag down indexes if plunge continues

One analyst predicts Nvidia stock could fall another 10%, potentially undoing the 2023 rebound.

Nvidia is part of the "Magnificent Seven" group of stocks along with Tesla.

Tesla shares have already dropped 20% over the past 3 months after a "disastrous" earnings report.

Nvidia falling further could drag down the S&P 500 and Nasdaq Composite.

It raises the question of whether the indexes can hold their 2023 gains if Nvidia plummets.