STORY: U.S. stocks ended lower on Tuesday, with the Dow dropping more than a quarter of a percent, the S&P 500 shedding over a tenth of a percent and the Nasdaq dipping marginally.
Investors were cautious ahead of an expected 25 basis-point interest rate cut from the Federal Reserve on Wednesday, said Skyler Weinand, chief investment officer at Regan Capital.
“We've already seen a huge run up in the stock market and the bond market just in the first 15 days of September here. [FLASH] So I don't think the market does a whole lot over the next 24 hours up until that Fed announcement.”
Data on Tuesday showed that U.S. retail sales increased more than expected in August, but that did little to change rate cut expectations.
Stocks on the move included Webtoon Entertainment, which soared 39% after the company said it will create a new digital platform to feature Disney comic brands, including Marvel and Star Wars.
:Oracle
Oracle rose 1.5% after President Trump said the U.S. and China have a deal to keep the video app TikTok operating in the U.S., and multiple news outlets reported Oracle is part of the investor consortium.
:File
And shares of Nvidia dropped more than 1.5% after Reuters reported weak demand in China for its new AI chip.
