Tech giants like Microsoft Corp., Intel Corp. and Nvidia Corp. weighed on the S&P 500 and tech-heavy Nasdaq Composite indices as the US markets opened on Tuesday.
S&P 500 opened 0.2% lower and Nasdaq opened 0.5% lower. The Dow Jones Industrial Average, on the other hand, opened 107 points, or 0.2% higher.
As of 8:25 p.m., S&P edged 0.23% lower to trade at 6,816.85, Nasdaq traded 0.55% lower at 23,397.41, while Dow Jones traded 0.17% higher at 47,451.
Shares of Nvidia were trading 3.11% lower at $192.93, Microsoft traded 0.19% lower at $505.06 and Intel slipped 2.25% to trade at $37.58.
Apart from this, Meta Platforms Inc., Oracle Corp., and Palantir Technologies Inc. also traded in the red.
Meta platform's stock declined 1.29% to trade at $623.58, while Palantir and Oracle shares traded 1.80% and 4% down at $190.08 and $231.22, respectively.
"Tech stocks are going to continue to determine the direction of the stock market going forward whether investors like it or not," Matt Maley at Miller Tabak told Bloomberg News.
After the markets opened spot gold slightly slipped to trade 0.11% lower at $4,112.17. Whereas, crude oil prices rose with West Texas Intermediate trading 1.88% higher at $61.25 a barrel and Brent crude trading 1.86% higher at $65.26 a barrel.
The Bloomberg Dollar Spot Index fell 0.1%, while the euro rose 0.3% to $1.1597. The British pound was little changed at $1.3169 and the Japanese yen rose 0.1% to 153.98 per dollar.
Bitcoin, the largest traded crypto currency, fell 2.2% to $103,283.39.
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