Major indexes commenced the day on a downward trajectory Tuesday, following a sell-off that marked the start of the week. The blue-chip Dow Jones Industrial Average, benchmark S&P 500, and tech-heavy Nasdaq experienced declines of 0.9%, 0.3%, and 0.4%, respectively, following a previous day where all indexes fell approximately 1%, amid ongoing concerns regarding valuations associated with AI-related stocks. AI darling Nvidia, the world’s most valuable company, saw its stock close down nearly 2% yesterday as investors eagerly await its quarterly earnings report after the bell Wednesday. Nvidia shares experienced a decline of 1.4%, while Oracle, another prominent player in the AI sector, saw a decrease of approximately 2% following a 1.3% drop on Monday.

Also dragging indexes yesterday were shares of Dell Technologies, Hewlett Packard Enterprise, and HP, which closed down a respective 8.4%, 7%, and 6.8% after Morgan Stanley downgraded the stocks amid soaring memory chip prices. Dell experienced a decline of 1.3% at the closing bell, whereas Hewlett Packard Enterprise and HP saw decreases of 0.4% and 0.5%, respectively. Home Depot shares fell nearly 4% following the release of disappointing third-quarter profit figures and a reduction in its full-year outlook. Fellow retailers TJX, Lowe’s, and Target are slated to report results Wednesday morning, while Walmart is scheduled for early Thursday.

Cloudflare shares sank about 4% following an outage that impacted several prominent customers, including social media site X and ChatGPT. Shares of Google parent Alphabet, which hit an all-time intraday high and finished up 3.1% yesterday after Warren Buffett’s Berkshire Hathaway disclosed it had bought 17.8 million shares worth more than $4 billion in the third quarter, ticked higher at the open.

Bitcoin was trading around 91,700 after dipping below 89,300 overnight, marking its lowest level since late April. The yield on the 10-year Treasury note decreased to 4.10%, down from Monday’s closing figure of approximately 4.13%. The U.S. dollar index, which monitors the dollar’s performance relative to a selection of foreign currencies, decreased by 0.1% to 99.49. WTI crude futures, the U.S. oil benchmark, experienced a decline of 0.2%, settling at $59.80 per barrel. Gold futures exhibited minimal variation, remaining at $4,075 per ounce.