Powell at Jackson Hole, Fed Minutes, Walmart Earnings
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Wall Street, Palantir Technologies
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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 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%.
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.
Wall Street continues to drift Wednesday while news of a leadership change at Target took some of the spotlight away from the latest batch of corporate earnings reports.
Wall Street continues to drift while news of a leadership change at Target took some of the spotlight away from the latest batch of corporate earnings reports. Wall Street continues to drift Wednesday while news of a leadership change at Target took some of the spotlight away from the latest batch of corporate earnings reports.
Nvidia, whose chips are powering much of the world's move into AI, dropped 1.3% and was on track to be the heaviest weight on Wall Street for a second straight day following its 3.5% fall on Tuesday. Palantir Technologies, another AI darling, sank 2.3% to add to its 9.4% loss from the day before.