Tech stocks pull Wall Street lower, led by investor favorite Nvidia

Friday, February 16, 2024, Vol. 48, No. 7

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.