Wall Street loses ground in mixed trading as gold and silver prices bounce back
By STAN CHOE, AP Business Writer
NEW YORK (AP) — The U.S. stock market is losing ground amid mixed trading on Tuesday, while gold and silver bounce back from their latest sell-off.
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The S&P 500 slipped 0.9% and fell further from its all-time high set last week, even though the majority of stocks within the index rose. The Dow Jones Industrial Average was down 189 points, or 0.4%, as of 12:20 p.m. Eastern time, and the Nasdaq composite was 1.6% lower.
Several influential Big Tech stocks weighed on the market, including drops of 3.3% for Nvidia and 2.9% for Microsoft. They helped drown out a 6.5% climb for Palantir Technologies, which reported bigger profit for the latest quarter than analysts expected. Its forecast for 61% growth in revenue this year also topped analysts’ expectations.