Market Update
The S&P 500 fell 1% due to concerns over Meta Platforms Inc.'s massive artificial-intelligence spending.
A selloff in several megacaps dragged down the S&P 500, following a $17 trillion surge from its April lows.
The US and China agreed on a trade truce, but the deal was seen as mostly priced in.
Equities triggered a "Hindenburg Omen", a technical indicator of a bifurcated market losing momentum amid lackluster breadth.
A technical indicator that occurs when a bifurcated market loses momentum amid lackluster breadth.
Bond yields and the dollar rose as the Federal Reserve tempered rate-cut expectations.
Author's summary: S&P 500 falls 1% amid concerns over Meta's AI spending.
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