The central bank's annual conference in Jackson Hole, Wyoming, kicks off on Friday, with Chair Jerome Powell expected to speak, remarks that will be closely watched for policy signals. Investors have been pricing in a 25-basis-point rate cut in September, according to data compiled by LSEG.

The day’s action again centered around stocks caught up in the mania around artificial-intelligence technology.

Shares on Wall Street dropped for a second successive day on Wednesday as weakness in the tech sector persisted while a key meeting of central bankers later this week remained in focus for currency and rates traders.

The Dow Jones Industrial Average was flat at 44,938.31. Read more at straitstimes.com. Read more at straitstimes.com.

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.

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%.

Wall Street overwhelmingly expects the Federal Reserve to cut rates next month, and Chairman Jerome Powell’s speech on Friday will give him a chance to hint at which direction policymakers are headed.