Tech sell-off drags U.S. indices lower; Palantir slips from record high

S&P 500: 6,771.55 (-1.2%)
Nasdaq-100: 25,435.70 (-2.1%)
DJIA: 47,085.24 (-0.5%)
Eurostoxx: 5,660.20 (-0.3%)
U.S. crude futures: $60.56 (-0.8%)

A sense of caution returned to Wall Street on Tuesday as stocks lost momentum, led by weakness in technology shares. The Nasdaq-100 led the decline, while the VIX volatility index – Wall Street’s fear gauge – climbed sharply. Market sentiment soured after Wall Street CEOs warned that stocks look vulnerable after a long winning streak, citing trade tensions, stretched valuations and credit market risks. Adding to the unease, investors are reassessing expectations for further Fed rate cuts, with signs pointing to a possible pause in December. Palantir Technologies was the steepest decline in the S&P 500 and Nasdaq-100, dropping 8% despite posting another quarter of record revenue.