Big Tech Stocks Resume Their Slide

Wall Street swung back down on Tuesday, and its former superstars once again led the way.

• The S&P 500 fell 60.46 points, or 1.1%, to 5,614.66.
• The Dow Jones Industrial Average fell 260.32 points, or 0.6%, to 41,581.31.
• The Nasdaq composite fell 304.55 points, or 1.7%, to 17,504.12.

Tesla was one of the heaviest weights on the market after falling 5.3%. The electric-vehicle maker's stock has been struggling on worries that it will lose sales because of anger at its CEO, Elon Musk, the AP reports. EV rivals, meanwhile, continue to chip away at its business

Alphabet sank 2.2% after the owner of Google said it would buy cybersecurity firm Wiz for $32 billion. It would be the company's most expensive purchase in its 26-year history, and it could boost the tech giant's in-house cloud computing amid burgeoning artificial-intelligence growth.

The drop for Big Tech continues a trend that's taken hold in the market's recent sell-off: Stocks whose momentum had earlier seemed unstoppable have since dropped sharply following criticism that they had simply grown too expensive. Chief among them have been stocks that zoomed higher in the frenzy around AI technology. Nvidia fell 3.4% as it hosted an event known as "AI Woodstock." Super Micro Computer, which makes servers, lost 9.6%. Palantir Technologies, which offers an AI platform for customers, sank 4%. They've been among the biggest losers as Wall Street retrenches amid uncertainty about what President Trump's trade war will do to the economy

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Trump's rat-a-tat announcements on tariffs and other policies have created worries that US households and businesses could hold pull on their spending, which would hurt the economy. It all makes things more complicated for the Federal Reserve, which is beginning its latest meeting on interest-rate policy and will make its announcement on Wednesday. Virtually everyone on Wall Street expects the Fed to hold its main interest rate steady. More attention will be on the forecasts the Fed will publish after the meeting, showing where officials expect interest rates, inflation, and the economy to head in upcoming years.

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