NEW YORK (AP) — Wall Street is pulling further from its records on Tuesday, ground down by tightening pressure from the bond market.
The S&P 500 sank 0.9% after falling as much as 1.4% at the start of trading. The Dow Jones Industrial Average was down 305 points, or 0.7%, as of 10:10 a.m. Eastern time, and the Nasdaq composite was down 1.1%. All three are still relatively close to their recently set all-time highs .
Nvidia and other companies that have benefited from the frenzy around artificial-intelligence technology were some of the heaviest weights on the market. They have soared for years on belief that they’re at the vanguard of the next revolution for the global economy. But they’ve also shot so high that critics say their prices have simply become too expensive.
Nvidia,