ByTy Roush,
Forbes Staff.
Each of the three major stock indexes declined again on Tuesday—with losses led by Amazon, Microsoft and Nvidia—as fears of an AI bubble appeared to have worsened among economists, while hopes of another interest rate cut have diminished.
The Dow Jones Industrial Average dropped about 450 points (0.9%), the S&P 500 declined 0.5% and the tech-heavy Nasdaq fell 0.8% as of around noon EDT on Tuesday.
Megacap stocks Amazon and Microsoft each earlier fell 3.5%, adding to declines for Nvidia (2.8%), Meta (2.5%), Palantir (2.5%), Tesla (2.4%), Alphabet (1.8%), Broadcom (1%) and AMD (5.5%), lowering the Nasdaq.
