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 slid about 0.3%, while the tech-heavy Nasdaq Composite slipped around 0.2%. The Dow Jones Industrial Average fell roughly 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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