US stocks fell on Tuesday as losses in major technology names dragged the market lower, with the S&P 500 slipping 0.6% and the Nasdaq falling 1.5%, its lowest level in more than two weeks, on steep drops in chipmakers. The Dow Jones finished muted after briefly hitting a record high earlier in the day.
Nvidia slid 3.5%, AMD tumbled 5.4%, and Broadcom fell 3.6%, while Palantir plunged 9.3%, making it the weakest performer in the S&P 500. On the upside, Home Depot gained 3.2% despite missing earnings expectations, supported by signs of firming demand in the housing sector.
Intel surged 7% after SoftBank revealed a $2 billion investment in the company, fueling optimism about its turnaround. Investors now turn their focus to the Federal Reserve's Jackson Hole symposium, where Chair Jerome Powell's remarks on Friday could shed light on the September policy meeting and the potential for rate cuts.
Source: Trading economi
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