The stock market pulled back on Tuesday as Wall Street digested the major indexes\u2019 latest highs.<\/p>\n
The Dow Jones Industrial Average fell 89 points, or 0.2%. The S&P 500 was down about 0.6%. The Nasdaq Composite dropped nearly 1%. All three marked record closing highs on Monday.<\/p>\n
The yield on the 2-year Treasury note dropped to 3.59%, while the 10-year yield was down to 4.12%.<\/p>\n
The market\u2019s biggest strength on Monday\u2014Big Tech and AI\u2014was a major point of weakness on Tuesday.<\/p>\n
\u201cMarkets have been grinding lower for most of the day but started to accelerate around 1 p.m.,\u201d wrote Mizuho\u2019s Daniel O\u2019Regan. \u201cBetween the Ryder Cup, holidays and lack of catalysts, it\u2019s a very slow Tuesday.\u201d<\/p>\n
President Donald Trump spoke at the United Nations. He also called off a meeting with Democratic lawmakers ahead of a Sept. 30 deadline to avert a government shutdown.<\/p>\n
\u201cI have decided that no meeting with their congressional Leaders could possibly be productive,\u201d he wrote on Truth Social.<\/p>\n
Federal Reserve Chairman Jerome Powell also spoke on Tuesday. Powell reiterated much of what he said during last week\u2019s press conference, but a remark that \u201cequity prices are fairly highly valued\u201d may have caught some traders\u2019 attention. Still, Powell noted it was not \u201ca time of elevated financial stability risks.\u201d<\/p>\n
Whatever the reason for the market’s slide, Micron Technology’s earnings report is due out within the hour, which could be the next test for the artificial intelligence stock rally.<\/p>\n","protected":false},"excerpt":{"rendered":"The stock market pulled back on Tuesday as Wall Street digested the major indexes\u2019 latest highs. The Dow…\n","protected":false},"author":2,"featured_media":1706,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[175],"tags":[79,18,19,17,188],"class_list":{"0":"post-82066","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-markets","8":"tag-business","9":"tag-eire","10":"tag-ie","11":"tag-ireland","12":"tag-markets"},"share_on_mastodon":{"url":"","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts\/82066","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/comments?post=82066"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts\/82066\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/media\/1706"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/media?parent=82066"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/categories?post=82066"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/tags?post=82066"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}