Investing.com – Wall Street’s main indices were mixed during these moments of trading on Tuesday, with most blue-chip stocks and chip companies weak, while sentiment remained fragile ahead of the Federal Reserve’s monetary policy meeting in March.
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Investor darling Nvidia Group (NASDAQ:) fell 3.0% after the company unveiled the Blackwell B200, an artificial intelligence chip it says is up to 30 times faster than its previous chip. Some investors noted that this news was priced into high-flying stocks.
Shares of other chipmakers, such as Advanced Micro Devices (NASDAQ:), Marvell (NASDAQ:), and Intel Group (NASDAQ:), fell between 1.9% and 4.9%, while the Philadelphia Semiconductor Index (NASDAQ:) fell by 2.3%. .
AI server maker Super Micro (NASDAQ:) fell nearly 11.5% after announcing it would sell two million shares that could fetch about $2 billion.
Five of the 11 major sectors in the S&P 500 index were trading lower, with the information technology sector falling 0.8%.
Most major stocks fell in early trading, with Tesla (NASDAQ:) losing 3.2% and Meta Platforms (NASDAQ:) falling 2.3%.
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Among other stocks, Lucid Motors (NASDAQ:) rose by 0.55%, while Canon (OTC:) fell by about 0.4%, and Nio (NYSE:) fell by about 6.6%.
The three major stock indexes closed higher in the previous session, with the Nasdaq rebounding from two consecutive small weekly losses, as growth stocks such as Alphabet and Tesla boosted the technology index.
Meanwhile, the focus will remain on who is expected to keep interest rates steady at the end of its meeting, which begins today and ends on Wednesday.
But investors are concerned that their new economic outlook could negatively impact markets, which could signal fewer interest rate cuts and a later start of a monetary policy easing cycle.
“It’s all about the dot plot,” said Mike Reynolds, vice president of investment strategy at Glenmede.
“There is almost no expectation that they will cut interest rates from their highs, but the Fed will take a hard look at inflation, which has been very steady through the first two months of the year,” Reynolds added.
Strong inflation data prompted traders to pull back bets on the next first interest rate cut in June to 55.2% from 71% at the start of last week, according to .
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Wall Street indices at 18:40 Saudi time
It now rises by 0.56% to the level of 39,007 points.
It is now rising by about 0.05% to the level of 5,151 points.
Meanwhile, it is now falling by 0.29%, to 16,057 points.
Markets at 18:40 Saudi time
It is now declining by 0.42% to the level of $2155 per ounce.
While it fell by about 0.39% to the level of $2152 per ounce.
On the other hand, it rises by about 0.32% to the level of 103,570 points.
Meanwhile, crude futures rose 0.73% to 87.5 per barrel.
While US West Texas Intermediate crude futures rose by about 0.9%, to $82.9 per barrel.
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