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Tech stocks retreat as markets pause after record highs
Nasdaq declines on tech weakness while Dow stays near a record as investors await Powell speech and upcoming retail results.
Markets pull back as tech shares retreat and major indices pause after hitting records ahead of earnings and a Powell speech.
Tech Stocks Sell Off as Nasdaq Drops and Dow Holds Near Record High
Tech stocks pulled back as Nasdaq led declines and the broader market paused after a strong run. The Dow closed near unchanged after briefly trading at records, as investors weighed a week full of earnings and a policy speech by Federal Reserve Chair Jerome Powell.
In company news, Nvidia faced pressure on policy signals and Palantir drew valuation questions, while Apple reportedly plans to shift iPhone production to India to diversify its supply chain. Robinhood expanded into football outcomes contracts and Best Buy opened a larger online marketplace, signaling continued shifts in tech and consumer retail as investors stay cautious ahead of earnings season.
Key Takeaways
"Football is far and away the most popular sport in America"
JB Mackenzie, Robinhood VP & GM of Futures and International, on football event contracts
"Event contracts leverage the power and rigor of financial market structure and are offered in a marketplace where buyers and sellers interact to set the price"
Robinhood description of its football contracts
"Detached from fundamentals"
Andrew Left of Citron Research on Palantir's valuation
"Everything we offer is with the full approval of the applicable authorities and designed solely for beneficial commercial use"
Nvidia spokesperson on export and policy considerations
Today the market shows a cautious mood as investors balance growth with policy risk. The AI rally is cooling but not over, suggesting a rotation toward companies that can weather regulatory shifts and supply chain changes. Powell’s remarks and upcoming retail results will likely set the tone for the near term. The moves also reveal how policy and geopolitics shape tech valuations more than hype alone.
The mix of corporate moves signals a broader trend: markets are pricing in both innovation and the risk of policy shifts. Earnings guidance and regulatory cues will be key in the days ahead, especially for the tech and consumer sectors that drive market sentiment.
Highlights
- Football is far and away the most popular sport in America
- Event contracts leverage the power and rigor of financial market structure
- Detached from fundamentals
- Everything we offer is with the full approval of the applicable authorities and designed solely for beneficial commercial use
Political and policy risk in market moves
References to tariffs, regulation, and political figures signal potential volatility and public reaction. Investors should watch policy cues closely.
Markets will hinge on earnings and policy signals in the days ahead.
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