Overview

• U.S. stocks were mixed Wednesday, with the Nasdaq down 0.67% after a 1.46% drop Tuesday and the S&P 500 off 0.24% for a fourth straight decline.
• Palantir fell 9% Tuesday and slipped another 1.1% Wednesday after Citron Research renewed a bearish valuation call, contributing to a broader AI pullback.
• Nvidia and other AI leaders swung sharply intraday, with Nvidia down as much as 3.9% before closing off just 0.1%, underscoring heightened volatility.
• Warnings about an AI bubble from OpenAI’s Sam Altman and an MIT report finding little measurable ROI from generative AI trials fed skepticism and profit‑taking.
• Attention turned to the Fed as July minutes flagged inflation risks and markets awaited Powell’s Jackson Hole remarks, while policy headlines included talk of potential U.S. government stakes in chipmakers and Trump urging Fed Governor Lisa Cook to resign; Intel was a standout gainer Tuesday on SoftBank’s $2 billion investment.