Powell at Jackson Hole, Fed Minutes, Walmart Earnings
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Wall Street falls
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The tech sector was behind much of the market recovery from the April selloff, but investors have started to take stock of the elevated valuations, sending the S&P 500 and the Nasdaq to their worst day in more than two weeks on Tuesday.
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.
Producer prices jumped in July but may not translate directly into the Fed’s preferred inflation gauge, easing fears of runaway inflation. Jobless
Asian shares have retreated, tracking a decline on Wall Street led by technology shares including Nvidia and other stars that have been riding the mania surrounding artificial-intelligence.