US stocks pulled back slightly on Tuesday as investors booked profits ahead of the Federal Reserve’s highly anticipated September policy meeting.
The S&P 500 dipped 0.1%, the Dow Jones fell 125 points, and the Nasdaq closed slightly below the flatline. Technology leaders including Nvidia, Microsoft, Alphabet, and Palantir retreated, while financial and utility stocks also weighed on the broader market.
Traders widely expect the Fed to deliver a 25 basis point rate cut on Wednesday, marking its first reduction since December, with markets closely watching Chair Powell’s comments for clues on future moves. Meanwhile, upbeat August retail sales data showed resilient consumer spending despite sticky inflation and a softening labor market.
Investors also tracked US-China developments, with progress on trade and a new TikTok framework lifting sentiment and boosting shares of Oracle.
Source: Trading Economics
https://www.newsmaker.id/index.php/en/market-news/index/98480-s-p-500-nasdaq-retreat-from-records