Stocks fell on Wall Street due to tech weakness and anticipation of interest rate cuts.

From Nasdaq: 2024-08-29 09:21:00

Wall Street closed lower on Wednesday, weighed down by tech stocks. Investors hope for interest rate cuts pending Friday’s inflation report. Dow fell 159.08 points. Nasdaq lost 198.79 points. S&P 500 declined 33.62 points. Semiconductor stocks suffered today.

NVIDIA earnings and potential cuts dominate headlines. NVIDIA shares fell 2.1% before reporting earnings. Investors await the Personal Consumption Expenditure index report on Friday. A rate cut is expected by the Fed. Semiconductor stocks Broadcom Inc. and AMD fell 2% and 2.8%, respectively.

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Read more at Nasdaq: Stock Market News for Aug 29, 2024