US stocks closed lower as cautious investors reacted to new economic data, with the S&P 500 down over 1.1% and the Nasdaq Composite losing about 1.9%. Nvidia shares fell over 6% after a record close, despite the company's ambitious AI plans. The 10-year Treasury yield rose to just below 4.7%, while expectations for a Federal Reserve interest rate cut were pushed back.
US stocks declined as investors reacted to new economic data, with the S&P 500 falling 0.7%, the Nasdaq down 1.4%, and the Dow Jones dropping 0.1%. The manufacturing sector showed continued expansion, but rising prices raised concerns for the Fed's inflation fight. Nvidia shares fell 5% after a record high, despite other chip stocks gaining.
US stocks saw a decline today, with the S&P 500 falling about 0.4% and the Nasdaq Composite down roughly 1.1%, as investors reacted to new economic data and adjusted rate cut expectations. The manufacturing sector showed continued expansion, but rising prices raised concerns for the Federal Reserve regarding persistent inflation. Nvidia shares dropped around 5% after a record-high close, despite other chip stocks like Micron Technology gaining ground.
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