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Stock market today: Stocks take leg lower after Fed minutes with Nvidia earnings on deck

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Nvidia,Nasdaq Composite,Fed Officials

Stocks face two big tests in Nvidia's pivotal earnings report and minutes from the Federal Reserve's last meeting.

US stocks slipped from record highs on Wednesday as investors waited for AI bellwether Nvidia's pivotal earnings and digested minutes from the Federal Reserve's May meeting that revealed some officials were willing to hike rates if necessary. The S&P 500 slipped around 0.4%, while the Dow Jones Industrial Average and the Nasdaq Composite both fell around 0.5%.

Investors are bracing for a big move in the chipmaker's share price and in other potential AI plays after the first-quarter results, set for release after the bell. It all adds up to a big test for the broader market as a whole. Meanwhile, investors were also greeted with the minutes from the Federal Reserve's May meeting on Wednesday.

 

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