Tech shares fell on Wall Street as doubts about artificial intelligence’s impact lingered, with eyes on Powell’s speech Friday. Trump’s involvement in the economy is raising concerns, as he calls for Fed Governor Lisa Cook to resign. Intel and tech firms dropped on news of potential government stakes. Investors are awaiting Powell’s Jackson Hole speech, with markets expecting a rate cut. Powell’s speeches historically move markets, with bond yields rising and stocks falling after his previous speeches. The theme this year is labor markets in transition, as inflation hovers above the Fed’s 2% goal. Powell may use this speech to defend his tenure and offer guidance on future rate cuts.

Read more at Yahoo Finance: Trading Day: AI fatigue, policy intrigue