Stocks moved lower on Tuesday, with the Nasdaq down 1.0%, S&P 500 down 0.6%, and Dow down 0.2%. Concerns over overvaluation were raised by Fed Chair Powell, who also discussed challenges in monetary policy. Nvidia shares fell after a record high on Monday. Retail and software stocks declined, while energy stocks rose. In Asia, markets were mixed, and in Europe, stocks mostly gained. Treasury yields fell. New home sales data is awaited on Wednesday.

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