Stock Market Today: S&P 500 closes lower as Nvidia leads tech stumble

Investing.com - The S&P 500 closed lower Wednesday, pressured by an Nvidia-led slide in tech just as fears of higher-for-longer Federal Reserve interest rates persist.) fell almost 4% to add pressure on the broader tech sector just as other big tech stocks including Netflix , meanwhile, weighed on chip stocks after falling over 7% following quarterly results that showed weaker than expected first-quarter new bookings.

Sentiment on the growth sector of the market including tech has soured following an ongoing climb in Treasury yields on fears that higher for longer rates are likely to persist. Federal Reserve Chairman Jerome Powell on Tuesday"was clear, the Fed intends to stay on the sidelines for longer than previously expected, given the unexpected increase in recent inflation data," Stifel said in a Wednesday note.) stock rose 17% after the carrier forecast stronger-than-expected earnings in the current quarter, as well as reporting a narrower-than-expected loss in the first quarter, on robust demand for travel.

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