Just when the Federal Reserve prepares to reduce interest rates next week, Wall Street placed its thumb squarely on the scale with a big day of stock losses on Tuesday.
The markets were led lower largely by tech stocks, specifically the producers of semiconductor chips. Nvidia lost 9.5% and Intel dropped by 9% to lead a massive decline for chipmakers.
The markets suffered major losses after the Labor Day weekend that saw the Dow Jones Industrial Average post another record-high. The Dow's record was short lived as the indices lost 626.15 points (1.51%).
