Nasdaq fell on chip stocks decline, Nvidia's AI chip unveiled, Dow rose 0.52%

From NASDAQ.:

The Nasdaq fell as chip stocks hit two-week lows, with Nvidia dropping 1.5% after unveiling an AI chip expected to be 30 times faster. AMD, Marvell, and Intel also saw declines, while the Dow rose 0.52%. Focus is on the Federal Reserve meeting and potential economic projections affecting rates.

Investors anticipate the Fed holding rates steady, but concerns arise over inflation projections. Inflation data shifted bets on rate cuts, with the first cut now expected later in the year. Trade tensions and economic uncertainties are influencing market movements, with crypto-exchange operator Coinbase and AI server maker Super Micro seeing drops amid market uncertainty.

Meanwhile, Spire Global surged 28.6% after a collaboration announcement with Nvidia for AI weather prediction. The S&P index marked highs while the Nasdaq experienced highs and lows. And the race to raise rates appears to be on hold for the time being as market dynamics continue to shift.



Read more at NASDAQ.: US STOCKS-Nasdaq dips as chipmakers slide; S&P 500 treads water with Fed in focus