Stocks experienced a decline on Tuesday, led by Nvidia, which pulled down the broader tech sector ahead of the chipmaker’s earnings report.
The Dow Jones Industrial Average saw a decrease of 64.19 points, or 0.17%, finishing at 38,563.80. The S&P 500 slipped 0.60% to close at 4,975.51. The Nasdaq Composite, which is heavily weighted towards technology stocks, dropped 0.92% to end at 15,630.78.
Nvidia shares tumbled by nearly 4.4% as investors anticipated the company’s upcoming earnings report scheduled for Wednesday after the market close. Despite expectations of strong financial performance, concerns regarding Nvidia’s lofty valuation were a factor in the decline. Other tech giants such as Amazon saw a 1.4% decrease in its share price, while Microsoft and Meta each experienced losses of approximately 0.3%.
Source (CNBC)
