The S&P 500 fell Tuesday, dragged lower by declines in mega-cap tech stocks, as investors braced for quarterly reports from names in that cohort. Traders also set their eyes on Washington as the Federal Reserve began its latest policy meeting.
The Dow Jones Industrials remained positive 15.75 points to 40,555.68.
The much-broader index slid 39.66 points to 5,423.88.
The NASDAQ tumbled 232.14 points, or 1.3%, to 17,139.66.
Nvidia shares pulled back by more than 5%, while Microsoft shed 1%. Other tech-related giants such as Amazon, Netflix and Apple also declined.
It is a big earnings week for mega-cap tech names. Microsoft is set to report after the bell Tuesday. Meta Platforms, Amazon and Apple are on deck for later this week.
The earnings season has been a solid one thus far. Of the more than 230 S&P 500 names that have reported, about 80% have beaten earnings expectations.
Investors will also watch closely for numbers from Microsoft, Advanced Micro Devices and Starbucks after the closing bell.
The earnings season has been a solid one thus far. Of the more than 230 S&P 500 names that have reported, about 80% have beaten earnings expectations,
Prices for the 10-year Treasury gained slightly, with yields falling to 4.16% from Monday’s 4.17%. Treasury prices and yields move in opposite directions.
Oil prices decreased $1.09 at $74.72 U.S. a barrel.
Gold prices shone brighter $3.70 to $2,381.50
