Stocks experienced a second consecutive day of decline on Tuesday, with the S&P 500 down by 0.6% and the Nasdaq Composite dropping by just under 1%. The technology sector saw significant selling pressure, particularly impacting Nvidia, whose shares fell by 4.4% for the day.
Among the Magnificent Seven stocks, six closed lower on Tuesday, with Alphabet being the only gainer, up by 0.4%. Notable losses were seen in Tesla (down 3.1%) and Amazon (down 1.4%). Despite the day's decline, Nvidia's shares have shown strong performance, up nearly 40% for the year after tripling in value last year. The company is set to report its earnings after the market close.
