The Fed chairman warned that stocks are “highly valued.” U.S. stocks dropped, with tech leading losses on skepticism over Nvidia’s $100 billion OpenAI deal.

Powell on Tuesday noted that asset prices, a category that typically includes stocks and other risk instruments, are at elevated levels.

The Fed chairman warned that stocks are “highly valued.” U.S. stocks dropped, with tech leading losses on skepticism over Nvidia’s $100 billion OpenAI deal.