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Stock market today: Tech leads losses as investors await Nvidia earnings

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Earnings Report,Nasdaq Composite

Investors are holding back ahead of the AI bellwether's earnings report, seen as crucial to keeping confidence in the broader market aloft.

A decline in tech stocks led the market lower on Wednesday as investors awaited chipmaker Nvidia's earnings report, seen as crucial to keeping confidence in the broader market aloft. The Dow Jones Industrial Average , which closed at an all-time high on Tuesday, was down almost 0.9%. The benchmark S&P 500 fell more than 1%, while the tech-heavy Nasdaq Composite was down nearly 1.6%.

The Information Technology sector was the worst performer in the S&P 500, sliding about 1.9%. Traders are expecting a swing of almost 10% in the chipmaker's shares in either direction, depending on whether hopes for another blowout quarter are met. Wall Street forecasts Nvidia earnings grew by roughly 109% and revenue by 99%, year over year. Updates on any potential delays for Nvidia's new Blackwell chip will be in particular focus.

 

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