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VOL. 48 | NO. 7 | Friday, February 16, 2024
Tech stocks pull Wall Street lower, led by investor favorite Nvidia
NEW YORK (AP) — Technology stocks led Wall Street broadly lower as chipmaker Nvidia pulled back ahead of its earnings report this week.
The S&P 500 fell 0.6% Tuesday. The benchmark index is coming off only its second losing week in the last 16. The Nasdaq composite gave up 0.9% and the Dow lost 0.2%.
Nvidia, which has ridden a wave of investor enthusiasm over artificial intelligence, lost 4.4%. The stock has more than tripled over the past year.
Walmart rose 3.2% after reporting stronger-than-expected results for its latest quarter and issuing sales forecasts that came in ahead of what Wall Street was expecting.