US Stocks Slide as Tech Valuations, Labor Market Draw Fresh Concern

US equities are falling mid-day Tuesday, as large-cap AI-related stocks drag on indexes with lofty valuations in focus.

The S&P 500 Index retreated 0.2% as of 12:04 p.m. in New York, dragged down by mega-cap tech names, even as more stocks in the benchmark climbed than fell. Nvidia Corp. was the biggest drag on the index on Tuesday morning, sliding after SoftBank Group Corp. sold its stake in the chip maker for $5.83 billion to fund other AI investments. The tech-heavy Nasdaq 100 Index declined 0.7%, while the Dow Jones Industrial Average rose 0.6%.