Stock market today: Dow, S&P 500, Nasdaq slide as Powell sees 'challenging situation' ahead for Fed

US stocks fell on Tuesday, pulling back from a record-setting streak, as Fed Chair Jerome Powell signaled the central bank would proceed cautiously on further rate cuts and suggested equities were "fairly highly valued." The Dow Jones Industrial Average (^DJI) fell 0.3%. The S&P 500 (^GSPC) fell about 0.6%, and the tech-heavy Nasdaq Composite (^IXIC) lost around 1%. Stocks jumped on Monday to clinch a third straight day of record-high closes, lifted by optimism that the AI trade and further Fed policy e ...