As investors prepared for what may be a challenging month following a robust but unpredictable August, stocks fell on Tuesday.
It was a 0.5%, or 189 point decline, on the Dow Jones Industrial Average.
The Nasdaq Composite declined by 0.9%, while the S&P 500 fell 0.7%. As Nvidia, the industry darling in artificial intelligence that has attracted investors’ attention for over a year, fell more than 4%, stocks experienced downward pressure.
The semiconductor stock had a decrease throughout the session, along with those of Micron, KLA, and Advanced Micro Devices. Over three percent dropped in the VanEck Semiconductor ETF (SMH).
With the three major averages finishing August with gains, Tuesday’s actions usher in a new trading month. The Labour Day vacation kept U.S. markets closed on Monday.
Source (CNBC)
