FX.co ★ Dow Retreats from Records, Nasdaq Slides

On Tuesday, U.S. stocks experienced a decline, primarily due to a downturn in major technology stocks, negatively impacting Wall Street. The S&P 500 fell by 0.6%, while the Nasdaq dropped over 1%, largely driven by significant losses among chipmakers. Meanwhile, the Dow Jones Industrial Average also declined after soaring to a record high earlier in the trading session. Notably, Nvidia's stock decreased by 2.7%, AMD's slipped by 4.9%, and Broadcom's fell by 3.7%. Palantir was the worst performer within the S&P 500, plummeting 9%. Conversely, Home Depot saw an increase of over 3%, despite reporting earnings that fell short of expectations, as investors responded positively to signs of steadying demand in the housing sector. Intel shares surged by 8.7% following SoftBank's announcement of a $2 billion investment in the company, which helped bolster confidence in Intel's recovery efforts. Attention is now turning to the Federal Reserve’s annual Jackson Hole symposium, where a speech by Chair Jerome Powell on Friday is anticipated to provide insights into the upcoming September policy meeting and assess the potential for rate cuts.