Wall Street pulled further from its all-time high Tuesday as AI stocks got back to sinking.
The S&P 500 fell 0.7 percent for a third straight modest loss since setting its all-time high on Thursday. The Dow Jones Industrial Average dipped 0.2 percent, and the Nasdaq composite sank 1.3 percent.
Nvidia, Micron Technology and Broadcom were some of the heaviest weights on the market amid criticism that their prices shot too high in the frenzy around AI.
Treasury yields held relatively steady in the bond market, while stock indexes were mixed in Europe and Asia.
On Tuesday:
The S&P 500 fell 53.30 points, or 0.7 percent, to 7,691.76.
The Dow Jones Industrial Average fell 116.38 points, or 0.2 percent, to 53,343.40.
The Nasdaq composite fell 355.20 points, or 1.3 percent, to 26,289.71.
The Russell 2000 index of smaller companies fell 39.65 points, or 1.3 percent, to 3,017.89.
For the week:
The S&P 500 is down 94 points, or 1.2 percent.
The Dow is down 389.01 points, or 0.7 percent.
The Nasdaq is down 439.45 points, or 1.6 percent.
The Russell 2000 is down 50.53 points, or 1.6 percent.
For the year:
The S&P 500 is up 846.26 points, or 12.4 percent.
The Dow is up 5,280.11 points, or 11 percent.
The Nasdaq is up 3,047.72 points, or 13.1 percent.
The Russell 2000 is up 535.98 points, or 21.6 percent.
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