Stocks fall as price worries hit AI star Nvidia, bitcoin

The stock market fell following another jarring day Tuesday, as worries keep dogging Nvidia, bitcoin and other Wall Street stars that their prices shot too high.

- By Stan CHOE

After quickly sliding to a morning loss of 15%, the Standard & Poor's 500 index clawed back nearly all of it before sinking again. It finished with a fall of 55.09 points, or 0.8%, to 6,617.32 and pulled further from its all-time high set late last month. The Dow Jones industrial average dropped 498.50 points, or 11%, to 46,091.74, and the Nasdaq composite sank 275.23 points, or 1.2%, to 22,432.85.

Nvidia was again the heaviest weight on the market, and its drop of 2.8% brought its loss for the month to more than 10%. That’s a steep enough fall that Wall Street has a name for it: a correction.

What Nvidia does matters disproportionately to savers’ 401(k) accounts because its immense size means it’s the most influential stock on Wall Street. It single-handedly steers the direction of the S&P 500 some days, after fervent demand for its artificial intelligence chips helped it briefly top $5 trillion in total value.

The U.S. stock market's recent struggles are a sharp turnaround from its nearly relentless rally since April, when Wall Street last sold off after President Trump shocked the world with stiff tariffs.