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US stock market retreats after record highs as Powell warns of “highly valued” markets — S&P 500 slips, Nasdaq hit by Nvidia selloff, Micron jumps on strong results
US stock market retreated today after hitting record highs recently, with the S&P 500 slipping 0.53% to around 6,658 and the Nasdaq falling nearly 1% amid a selloff in Nvidia shares. The Dow Jones Industrial Average also dipped 0.19%, closing near 46,293. Nvidia's shares dropped about 2.8% a day after announcing a $100 billion investment in OpenAI, which had initially boosted its stock and lifted the market. Micron Technology bucked the trend by jumping on strong fiscal fourth-quarter results that exceeded Wall Street expectations, driven by robust AI-related demand.
US stock market retreated today after hitting record highs recently, with the S&P 500 slipping 0.53% to around 6,658 and the Nasdaq falling nearly 1% amid a selloff in Nvidia shares. The Dow Jones Industrial Average also dipped 0.19%, closing near 46,293. Nvidia's shares dropped about 2.8% a day after announcing a $100 billion investment in OpenAI, which had initially boosted its stock and lifted the market. Micron Technology bucked the trend by jumping on strong fiscal fourth-quarter results that exceeded Wall Street expectations, driven by robust AI-related demand.
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