Overview

• U.S. stocks closed mixed as the Nasdaq fell 0.67% and the S&P 500 slipped 0.24%, while the Dow inched up 0.03%.
• Mega-cap tech weakened, with Alphabet, Amazon, Apple, Meta, Microsoft, Nvidia and Tesla ending lower.
• Traders looked to the Fed’s Jackson Hole symposium for policy signals from Chair Jerome Powell that could shape the rate path.
• Selling in AI-linked names followed an MIT report questioning near-term monetization and recent comments by OpenAI’s Sam Altman calling AI stocks a bubble.
• Mexico’s S&P/BMV IPC and FTSE-BIVA declined after expanded U.S. tariffs on steel and aluminum derivatives and as Kapital Bank and Banco Multiva announced asset deals tied to business strains from U.S. accusations against local financial firms.