Tech stocks pulled back on Tuesday as the absence of fresh bullish catalysts prompted investors to take profits after the recent months-long rally.
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By 1 p.m. ET, the Nasdaq 100 was down 1.4%, on track for its worst session in over two weeks. Palantir Technologies Inc. (NASDAQ:PLTR) led the declines, sliding by over 8% after doubling in value year-to-date.
The S&P 500 slipped 0.5%, the Russell 2000 dropped 0.9%, while the Dow Jones Industrial Average held steady near 44,900.
The retreat came as peace talks between President Donald Trump, Ukrainian President Volodymyr Zelenskyy and European leaders failed to deliver a breakthrough. Investors are now turning their focus to Federal Reserve Chair Jerome Powell‘s speech later this week for clearer signals on interest rates.
Losses were concentrated in technology, while sectors such as real estate and …