Market Movements Amid Government Shutdown Concerns

U.S. equities edged lower as investors weighed the potential impact of a looming government shutdown. The Dow, S&P 500, and Nasdaq all saw modest declines in Tuesday afternoon trading.

Spotify shares tumbled following news that co-founder and CEO Daniel Ek will step down, handing leadership to co-presidents Gustav Soderstrom and Alex Norstrom. The transition comes as the music streaming giant faces increasing competition in the audio entertainment space.

Pfizer shares gained ground after the pharmaceutical company reached an agreement with the TRUMP administration to lower drug prices. The deal could signal broader policy shifts in healthcare pricing.

CoreWeave, the Nvidia-backed AI infrastructure provider, saw its shares surge after announcing a $14.2 billion agreement with Meta Platforms. The partnership underscores the growing demand for AI compute capacity among tech giants.