From Nasdaq:

Wall Street closed lower on Tuesday, led by Apple and chip sector weakness ahead of economic data and Powell’s remarks. Despite slower U.S. services growth, new orders hit a six-month high. PMI confirmed economic growth despite Fed rate hikes. Tech sell-off attributed to profit taking after recent rally. Stocks fell, with Apple facing challenges in China. Chip sector hit by AMD struggles in Chinese market and broader tech weakness.
Indices: Dow -1.04%, S&P -1.02%, Nasdaq -1.65%. Investors await Powell’s testimony, interest rate clues from data and jobs report. Majority predict rate cut in June. Tesla shares down after factory disruption. Target shares up on strong sales outlook. Microstrategy falls on convertible notes announcement. Market taking a breather after recent highs. Market outlook post: linkSP 500 Nasdaq ISM services PMIReuters.dropdown-menu__itemReuters.dropdown-menu__item(([email protected]; +13322191897))Disclaimer: The opinions expressed are those of the author and not Nasdaq, Inc.



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