Stock market today: S&P 500 slips as Nvidia rebound runs out of steam

Investing.com - The S&P 500 slipped on Wednesday, as Nvidia's rebound faded, keeping a lid on tech stocks despite a sharp drop in Treasury yields amid rising bets on a jumbo Fed rate cut later this month.

"Today's report adds to the body of evidence that the labor market is not only looser than pre-pandemic but is continuing to cool and potentially now at a faster pace," Citi analysts said in a note., which is expected to play a key role in the Federal Reserve's decision on whether to implement a rate cut of 25 basis points or 50 on September 18.

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