(Reuters) – The New York Stock Exchange opened lower on Tuesday, with investors playing cautiously ahead of the start of the Federal Reserve’s (Fed) monthly monetary policy meeting, with the decline in technology stocks weighing on the indices.
In early trading, the Dow Jones index was stable at 14.95 points, or +0.04%, at 38,805.38 points and the broader Standard & Poor’s 500 fell 0.20% to 5,139.18. points.
The Nasdaq Composite lost 0.51%, or 81.57 points, to 16,021.88.
The three main American indices are catching their breath after closing higher on Monday, the Nasdaq, with a strong technological component, having rebounded after two successive weeks of decline, driven by Alphabet and Tesla.
However, most technology and growth stocks are under pressure on Tuesday, in the wake of Nvidia, which fell 1.05% after unveiling its new Blackwell B200 artificial intelligence chip.
AMD lost 3.39%, while semiconductor groups Marvell Technology, Intel and Broadcom also lost between 1.33% and 3.14%.
Super Micro Computer falls 9.87% after filing for a stock offering for up to 2 million shares.
Cryptoasset groups Coinbase Global, Riot Blockchain and Marathon Digital Holdings fell from 4.20% to 5.15% in the wake of profit-taking on bitcoin.
All eyes are now on the Fed governors who begin two days of meetings, with markets counting on key rates being maintained on Wednesday. However, investors are also concerned that the latest US economic data could lead to a delay in the timetable for rate cuts.
“With price increases still stronger than expected, signs of a more vigilant and wary Fed are likely to emerge from this meeting,” said Susannah Streeter, an analyst at Hargreaves Lansdown.
“However, the wave of exuberance continues among investors still charged with enthusiasm about the seemingly endless possibilities that artificial intelligence will bring to the corporate world.”
(Writing by Augustin Turpin, edited by Kate Entringer)
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