Fed, Wall Street and Jackson Hole
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Losses for big technology companies pull Wall Street
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The heaviest weight on the market was Nvidia, whose chips are powering much of the move into AI. It sank 3.5%.
The tech sector was behind much of the market recovery from the April selloff, but investors have started to take stock of the elevated valuations, sending the S&P 500 and the Nasdaq to their worst day in more than two weeks on Tuesday.
The S&P 500 slipped 0.4% and is on track for a third straight modest loss after setting its all-time high last week. The Dow Jones Industrial Average was up 8 points, or less than 0.1%, as of 11:50 a.m. Eastern time, and the Nasdaq composite was down 1%.
Wall Street faded on Tuesday following drops for Nvidia and other stars that have been riding the mania surrounding artificial-intelligence technology.
NEW YORK (AP) — Wall Street is holding near its record heights on Monday, ahead of a week likely to be dominated by updates from the head of the Federal Reserve and from some of the biggest U.S. retailers.
Shares on Wall Street dropped for a second successive day on Wednesday as weakness in the tech sector persisted while a key meeting of central bankers later this week remained in focus for currency and rates traders.
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