Nvidia Down Again as US Stock Market Opens Mixed

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Wall Street stocks were mixed Wednesday morning after falling in the previous session as another drop in the value of artificial intelligence leader Nvidia weighed on the Nasdaq.

The chipmaker fell about three percent after Bloomberg reported that U.S. antitrust regulators had subpoenaed it as part of an investigation into its practices.

Heading into September, a historically weak period for stocks, some investors decided to “lock in” profits for early 2024 “because we don’t necessarily know how the year will end,” said Quincy Krosby of LPL Financial.

After about 15 minutes of trading, the Dow Jones Industrial Average was up 0.2 percent to 41,015.41.

The broad S&P 500 index was steady at 5,528.67, while the technology-heavy Nasdaq Composite index fell 0.4 percent to 17,075.30.

The data showed the U.S. trade deficit widened to $78.8 billion in June from a revised $73.0 billion in June, the largest since mid-2022.

On Wednesday evening, the Federal Reserve is scheduled to release its “beige book” of economic activity in the United States.

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