Nasdaq dips nearly 1% as NVIDIA loses ground
US stocks took a dip on Tuesday, with the Nasdaq down nearly 1% as big tech names like NVIDIA, Amazon, Microsoft, and Apple lost ground.
NVIDIA's shares especially dropped after rising in the previous session, when it revealed plans to invest up to $100 billion in OpenAI.
The S&P 500 and Dow Jones also slipped, ending their three-day winning streak.
Fed Chair Powell's speech creates interest rate uncertainty
Fed Chair Jerome Powell's latest speech left investors guessing about when interest rates might drop again.
He talked about the challenge of fighting inflation while jobs are getting shakier—a balancing act that's making markets nervous.
This uncertainty led many to cash out recent gains after last week's rate cut.
Boeing gains on $8 billion plane order
Not all stocks struggled: Boeing climbed after landing an $8 billion plane order from Uzbekistan Airways, and healthcare company Kenvue bounced back from recent lows.
It's a mixed mood on Wall Street as everyone tries to read the next move in a shifting economy.