Data by YCharts
The S&P 500 (SNPINDEX:^GSPC) dropped 0.55% to 6,656.92, while the Nasdaq Composite(NASDAQINDEX:^IXIC) slid by 0.95% to 22,573.47. The Dow Jones Industrial Average (DJINDICES:^DJI) fell by 0.19%, closing at 46,292.78. Major indexes eased from record levels as Federal Reserve Chair Jerome Powell signaled that the central bank would take a measured approach to additional rate cuts.
Powell described policy as still "modestly restrictive" and reiterated that future moves would depend on inflation and growth data, cooling some of the enthusiasm that had driven equities higher in recent weeks.
Tech shares led the decline. Nvidia Corp. (NASDAQ: NVDA) retreated after outlining plans to invest at least $100 billion in OpenAI, including the buildout of massive AI systems. The update, which had lifted shares earlier in the week, prompted profit-taking. By contrast, Boeing Co. (NYSE: BA) gained after Uzbekistan Airways ordered up to 22 Dreamliner jets valued at more than $8 billion.
Investors now look ahead to fresh economic data for signals that could guide the Fed's pace of easing.
Market data sourced from Google Finance on Tuesday, Sept. 23, 2025.
