Yields Reprice the AI Trade: A 1.4% S&P Week Before Nvidia and Warsh's Jackson Hole Debut
U.S. stocks snapped a three-week winning streak as the S&P 500 fell 1.4% and the Nasdaq 2.1%, with the 10-year at 4.74% and semiconductors down about 5%. Walmart's 9% drop flagged a stretched consumer. Next week: July PCE, Nvidia earnings, and Chair Warsh's Jackson Hole debut.