US Stock Markets Pull Back from Highs Amid AI Frenzy Criticism

Stock markets in the US pulled back from their highs on Tuesday as major indexes declined following criticism of AI stocks. The S&P 500 fell 0.7% for a third consecutive day since setting its all-time high, while the Dow Jones Industrial Average dipped 0.2%. The Nasdaq composite sank 1.3%, with Nvidia, Micron Technology, and Broadcom among the heaviest weights on the market.

The decline in AI stocks was attributed to criticism that their prices had shot too high during the frenzy surrounding artificial intelligence. Treasury yields remained relatively steady in the bond market, while stock indexes were mixed across Europe and Asia.