Wall St futures slip
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The day’s action again centered around stocks caught up in the mania around artificial-intelligence technology.
The S&P 500 slipped 0.4% and is on track for a third straight modest loss after setting its all-time high last week. The Dow Jones Industrial Average was up 8 points, or less than 0.1%, as of 11:50 a.m. Eastern time, and the Nasdaq composite was down 1%.
Dow futures slipped slightly on Wednesday as investors adopted a cautious stance ahead of Federal Reserve Chair Jerome Powell’s upcoming remarks at the Jackson Hole Symposium.
The heaviest weight on the market was Nvidia, whose chips are powering much of the move into AI. It sank 3.5%.
Wall Street faded on Tuesday following drops for Nvidia and other stars that have been riding the mania surrounding artificial-intelligence technology.
Wall Street's main indexes closed roughly flat on Monday, after struggling for direction while investors awaited a raft of corporate earnings reports from major retailers for more signs about the state of the economy and the Federal Reserve's annual symposium in Jackson Hole.