A slump in tech and artificial intelligence (AI)-related stocks sent U.S. stock indexes plunging early in the week.
However, Wall Street was flat on Tuesday, with no notable moves recorded.
Investors were nervously watching the major indexes on Monday, with the S&P 500 down 0.5% while the Nasdaq Composite fell 1.21%. But in contrast, the Dow Jones managed to gain 0.08%.
Palantir, a company known for its AI and defense, suffered a sharp 10.5% drop.
Investor concerns over NVIDIA's upcoming earnings report sent the company's shares down 3.1%.
News of Apple's $500 billion investment plan in the U.S. and hiring 20,000 new employees supported Apple's stock price rise of 0.6%.
The indicator used by the Federal Reserve (Fed) to assess the level of inflation, the US PCE, will be awaited by investors at the end of the week as it will provide information on changes in the prices of goods and services.
The Fed watches this indicator closely because it provides a broad picture of inflation trends and helps in determining monetary policy decisions.
