SPY ETF Dips Amid Tech Sell-Off Ahead of Nvidia Earnings
The SPDR S&P 500 ETF Trust (SPY) fell 0.84% on Tuesday, mirroring declines in the S&P 500 and Nasdaq 100 as technology stocks led a broad market retreat. Investor caution prevailed ahead of Nvidia's pivotal earnings report, with fading hopes for Federal Reserve rate cuts further dampening sentiment.
Sector performance was mixed, with Energy, Healthcare, and Real Estate eking out gains while Consumer Discretionary and Industrials joined Tech in the red. The market now braces for Wednesday's Nvidia results—a bellwether for AI optimism—along with delayed economic data and FOMC minutes that could reshape rate expectations.